What's in store for housing market in 2017?

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Home sales ramp up
Home sales ramp up | Iakov Filimonov/

Home sales ramp up

January and February tend to have the least number of home sales, as people stay indoors and recover financially from the holidays.

A.W. Pickel III, president of the Midwest division of AmCap Mortgage Ltd., believes that rising interest rates will push buyers into the market earlier in the year. People will try to buy in winter, figuring that higher interest rates will make homes less affordable in spring.

"I think it'll begin to pick up in earnest in February, and in March it'll be running full-bore," Pickel says.

READ MORE: Here's why you shouldn't panic over rising mortgage rates.

Sharga believes that rising mortgage rates will cause home prices to rise more slowly in 2017 than they did in 2015 and 2016. Slower price increases should help sales, too, he says.


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