May 26, 2017 | Bob Myers
As we head into summer, it is a great time to review how the 2017 real  estate market is doing so far.  Here is what the experts are saying:

Doug Duncan, Fannie Mae Chief Economist   “Positive demographic factors should continue to reshape the housing  market, as rising employment and incomes appear to be positively  influencing millennial homeownership rates.” 

Diana Olick, CNBC   “Even as more homes come on the market for this traditionally  popular sales season, they're flying off fast, with bidding wars par for  the course. Home prices have now surpassed their last peak, and at the  entry level, where demand is highest, sellers are firmly in the driver's  seat.”

Daren Blomquist, Senior VP at Attom  "I am guessing we will see it get even better… If you are considering moving, it could be a really good time to sell."

Lawrence Yun, NAR Chief Economist  "The early returns so far this spring buying season look very  promising as a rising number of households dipped their toes into the  market and were successfully able to close on a home last month.  Although finding available properties to buy continues to be a strenuous  task for many buyers, there was enough of a monthly increase in  listings…for sales to muster a strong gain. Sales will go up as long as  inventory does."

Mark Fleming, First American Chief Economist  “Despite higher mortgage rates, the potential for home sales  increased on an annual basis driven by steady income and job growth,  along with a surge in building permits. While it may be a little late  for this spring, the increase in building permits is a welcome sign that  some relief may be in sight for the inventory shortages that are  holding back many markets from realizing their full potential this  spring.”

My   team and I are real estate  experts in Montgomery County and the   surrounding Metro area. When buying  or selling a home, please consider   us your resource for all things real  estate. If you need referrals  for  obtaining a home loan or are  refinancing, want a recommendation on  a  home warranty, need a service or  just have a home related question,   please give me a call at  301-910-9910 or email me at   bobmyersteam@gmail.com.
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