NY-NJ Metro Predicted to Be Hot in 2017

The New York metropolitan area is predicted to be among the hottest 25 real estate markets in 2017 — No. 23, to be exact — according to realtor.com.

The forecast for sales in the New York metropolitan area is expected to increase 6.5%, as compared to 2.6% nationally, according to National Association of Realtors’ chief economist.

The forecast targets a 4% price growth in the New York metropolitan area, and nationwide, home prices are forecast to trend up 3.9% growth year-over-year.

Realtor.com uses information from home sale and price trends as well as population changes, new construction, unemployment and job creation to make the predictions for the market.

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