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Summer Real Estate Trends To Watch For

On July 6, 2017

Categories: Ross Report

The summer brings different real estate trends than any other season of the year. In many areas of the United States, it’s the time for the market to heat up. There are several trends to look for this summer and some are listed below.

Move-Up over Starter Home for Millennials

It’s more likely that millennials will be looking to forgo the traditional starter home for what is known as a move-up home. This is the largest group of buyers expected this summer and they are not looking for just a small fixer-upper or starter home.

Middle-Income Homeowners Will See Values Rise

As was already predicted for 2017, the middle-income homeowners will continue to see values rise for their homes. It will slow down some over the summer, but the values for homes priced at about $500K and under will continue to go up.

Luxury Market will See Price Corrections Continue

The summer will be filled with price corrections in the luxury market, especially in the South Florida area. Many price cuts may be in the near future, which could help create more sales as the luxury condo market is crowded throughout Miami.

Related: Millennial Buyers Have Arrived

The summer of 2017 will be filled with real estate trends. These are just a few expected to take the spotlight.

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