SAN FRANCISCO–A survey of housing market experts is offering some predictions for what 2017 will hold.
The Zillow Home Price Expectations Survey found analysts expect rising mortgage interest rates to have a larger impact than any other housing trend this year, with the potential impact of rising mortgage interest rates in 2017 being doubly important as home values continue to quickly appreciate.
According to Zillow, the surveyed experts were also asked to predict the path of home value growth through 2021, with respondents saying they expect home values to grow 4.4% in 2017, up from expectations of 3.6% the last time the same survey was conducted.
The experts were asked to name up to three market forces they think will have the most significant impact on U.S. housing in 2017. Among the responses, “rising mortgage interest rates, and their impact on mortgage affordability” was named by 56% of panelists answering the question, the largest single response rate for any individual response.