Zillow Predicts a Mostly Happy New Year in 2017 – NMP Skip to main content

Zillow Predicts a Mostly Happy New Year in 2017

Phil Hall
Nov 22, 2016
Next year will be a positive experience for the housing market, according to a new slate of 2017 predictions offered by Zillow

Next year will be a positive experience for the housing market, according to a new slate of 2017 predictions offered by Zillow. However, a potential wild card may create new concerns for home builders.

Among the housing forecasts being envisioned by the Seattle-based company are a 3.6 percent increase in home values, an increase in the level of Millennials pursuing residential property—which should help elevate the historically low homeownership rate—and more affordable housing costs and options for renters. Zillow also believes that more people will drive to work in urban centers due to rising population of homeowners in more affordable suburbs.

One problem next year, Zillow warned, could involve home construction and a potential shortage of workers.

“There are pros and cons to both existing homes and new construction, and the choice for homebuyers can often be difficult,” said Zillow Chief Economist Svenja Gudell. “For those considering new construction in 2017, it's worth considering the added cost that may come amidst ongoing construction labor shortages that could get worse if President-Elect Trump follows through on his hardline stances on immigration and immigrant labor. A shortage of construction workers may force builders to pay higher wages, costs which are likely to get passed on to buyers in the form of higher new home prices.”

Nov 22, 2016
loanDepot And mellohome's 'Grand Slam' Experience Builds Momentum

After recently launching Grand Slam, a new buying experience, loadDepot and its sister company, mellohome, has seen more than 1,400 accepted customer offers.

Industry News
Dec 08, 2021
SoCal VA Homes Stresses Importance Of New VA Loan Limits

SoCal VA Homes, a company that works exclusively with active military and Veteran homebuyers, expressed how important the Federal Housing Finance Agency's new conforming loan limit is to the demographic.

Military Lending
Dec 08, 2021
OpenClose Launches Mobile Assist

OpenClose, a fintech provider of mortgage software solutions for banks, credit unions, and mortgage lenders launched its native mobile app platform, Mobile Assist.

Dec 07, 2021
Deephaven Heightens Foreign National DSCR Program

Deephaven is amping up its Foreign National DSCR Program as a response to the increase in the real estate investment market.

Dec 07, 2021
Revolution Mortgage Opens Second Mortgage Branch In Cincinnati

Columbus, OH-based Revolution Mortgage announced the opening of its second branch in Cincinnati and 14th branch in Ohio.

Industry News
Dec 06, 2021
Nations Lending Teams Up With NBA Legend Dennis Rodman On Integrated Brand Campaign

Nations Lending, a full-service national mortgage lender, announced the launch of its first integrated brand campaign starring NBA Champion and All-Star Dennis Rodman.

Sales and Marketing
Dec 06, 2021