The upcoming year looks promising for the Stuart real estate market. However, men and women with Stuart homes for sale should stay on top of the latest market trends, otherwise they will be left in the dust.
Like it or not, Millennials are growing up and have become the most populated generation in the nation. These youngers are entering the workforce after college and getting their own places to live. That means Millennials are now buying and renting Stuart real estate.
First time Stuart real estate buyers are wonderful for the industry, making up a large percentage of sales on the South Florida market. After living at home with their parents for so long, they tend to have money in the bank that can go towards Stuart luxury homes. Quick to take advantage of low interest rates, these new buyers will be marvelous for the overall Stuart real estate market in 2017.
So how will interest rates on homes for sale in Stuart be in 2017? Will they drop or jump up high? The answer will determine the overall market in 2017. There is no certain way to know how interest rates will move. However, experience tells us that they will increase steadily. Otherwise, South Floridians can suffer another recession.
Interest rates gradually rising may cause Stuart real estate owners to freak out and try to unload their property. In other words, it will be a good time to buy Stuart homes for sale. After all, these interest rates make it better to purchase Stuart real estate than to simply rent a home in Palm Beach County.
The Stuart real estate market can also expect men and women to make many changes to the homes in the next year. Due to low interest rates, people have been choosing to stay put and remodel their homes, rather than simply selling it and finding a new place to live. As a direct result, Millennials looking to purchase their homes will have few choices of Stuart real estate.
Things will most likely change in 2017, as folks will use their increased equity to buy the homes that they’ve always wanted. These bigger and more luxurious pieces of Stuart real estate will be more readily available with lower rates for first time buyers.
So what’s the biggest problem that’s facing the Stuart real estate market? There are a limited number of houses and apartments in the most popular areas of the competitive Stuart real estate market. That leaves homeowners scared to get rid of their homes with nowhere to move to. As a direct result, buyers will have fewer choices and prices for nice homes will increasingly go up.
That’s why Berkshire Hathaway HomeServices Florida Realty suggests that you do all your homework and avoid making any rash decisions. The last thing that you want is to be stuck with a home that you don’t want. Or worse, selling your place and not having anywhere to go. Call a Berkshire Hathaway HomeServices Florida Realty agent today to discuss your best options on the South Florida market.
About Berkshire Hathaway HomeServices Florida Realty:
Berkshire Hathaway HomeServices Florida Realty has 42 locations serving 19 counties throughout Florida and approximately 1,800 sales professionals. The full-service brokerage, founded in 1999, is a wholly owned subsidiary of WCI Communities, Inc. To learn more about the best Stuart real estate business, visit www.BHHSFloridaRealty.com today.
