Real Estate News

Report: Housing outlook stays strong

Published: 27 Jun 2017

A new report puts housing data for the entire country in a grander context, at least for the first few months of this year. Nationwide's Health of Housing Markets Report for the first quarter of 2017 has several insights, but chief among them is the general announcement about housing market performance. According to this report, the company's Leading Index of Healthy Housing Markets has stayed almost exactly at the same spot as last year, perhaps indicating a continuing pattern.

Technically, the source's index dropped by a tenth of a point between 2016 and the current ranking. However, in the grander arc of the rating over the past 16 years, this appears as more of a leveling off, at least so far.

Since the middle of 2014, the general slope of the index has been downwards, but the regional housing market status appears to be strong as well, with a significant amount of positive performance areas.

As part of its assessment, the report listed the top and bottom-ranking Metro Statistical Areas covered in this dataset. Of the states listed in the top ten, Pennsylvania seemed to be a clear winner, with three entries on the ranking. These included the top two, Lancaster and Scranton-Wilkes-Barre, as well as the ninth metro area listed, Philadelphia.

The middle point of the year has brought an expected period of predictions for what 2017 will continue to hold, though it obviously remains to be seen what the results will be. Bankrate collected some of these theories, including the possible seasonal switch in home sales, which tends to grow in the summer months for most years and could be a boost to 2017's figures in particular. The source also mentioned the chance for mortgage rates to increase as more millennials enter into the homebuyer market.