Figures released for US property prices in August point to another rise and bring the market close to its peak reached in July 2006. Prices went up across the board with some markets showing considerably higher increases.
Property analysts are unanimous in that 2016 has been one of the best years for the US housing market since the crisis. With the sector already looking forward to more of the same next year, now is a good time to take a look at some forecasts for the trends in the US property market in 2017.
The so-called millennials now represent the largest generation group in the US property market. A recent survey reveals their homeowner aspirations and what exactly makes the ideal US property for the millennial generation.
Financial instability and political uncertainty in their home countries have led many foreigners to regard the US property market as a safe haven for their investment. The amount invested in properties in the US between April last year and March this year is the second highest since 2009 with big interest from Chinese and British buyers.
For the Americans, property investment is the best long-term choice for their money. Standing well ahead of other investment options, property ranks as the favoured haven for money over stocks, bonds and gold. The turn-around in the US property market with house prices on the rise is one of the main reasons behind their choice. This BRIC Group news article explains the phenomenon.
The latest predictions from Freddie Mac point to 2016 as the best year for property in the US for ten years. Bases its figures on solid job creation, continual household formation and steady price rises pushed upwards by demand, the federal mortgage corporation believes the US property market is set for an excellent year. BRIC Group explains why.
More households are choosing to rent US properties in the suburbs than city centres across the nation as a whole. In addition, the renter population continues to grow and outpace the supply of properties available to rent. These latest figures confirm the potential behind buy-to-let property in the US as this BRIC Group news article explains.
Southwest Florida is experiencing a boom on all fronts – thousands of jobs are being created, tourists are flocking to the area and property prices are seeing double-digit rises. Analysts point to an excellent 2016 for this part of Florida, as this latest BRIC Group news article explains.
2016 looks set to be a key year for Tampa property after a big increase in interest from both American and foreign buyers. Reasons behind Tampa’s rising popularity include more direct flights, better prices for property and the area’s high standard of living. This latest news article from BRIC Group explains why the spotlight is currently shining on property in Tampa.
A recent nationwide survey finds that rental demand for US property is set to continue. Pressure from new demographics and a changing economic scenario mean that the supply of rental properties in the US will remain well below demand.
“It’s a good time to be a landlord,” Florida Realtors news sector announced recently in an article explaining how rental properties in the US offer excellent long-term investment. The short-term return might not be as high as quick sales of US property but buy-to-let investment does secure long-term wealth.
Investors looking at the US property market next year can expect a virtual repetition of this year’s figures. In a nutshell, 2016 will see more high sales and price rises along with continued increases in rental rates and low vacancy levels within the rental market.
Globally, house prices are not moving much, but key destinations are attracting big property investment and registering double-digit price rises. Continued uncertainty over the Chinese economy means overseas property markets in North America and Australia are likely to remain safe bets in the near future.
After an excellent year with a dynamic market and rising prices, US property is looking forward to further growth and excellent investment returns in 2016. Next year will see the consolidation of smaller urban markets as a preference among buyers and residential property as the best option for investors.
Buying a property in the US is at its most affordable for two years despite rising house prices. Counties with the most affordable property include several in the Midwest and some analysts describe now as a “historic time” to buy Florida property.
