02 Jan 2017: Optimism Wins.. But Expect the Unexpected
Perhaps it cannot out do last year for unexpected twists, but 2017 promises to have its own bag of tricks in store. According to this Inman article, “Overall, 2017 will be an unorthodox, non-traditional and unpredictable year, both nationally and globally. Those who are nimble will manage it best.”
The same applies here in St. Louis. We have seen a lot of change in the last year alone, with a remarkable amount of new construction and renovation in and around the city. Rehabbers are feeling the squeeze as the competition for projects tightens.
Last Spring fur flew during a fiercely competitive spring market, and all signs point to an equally busy 2017. My colleagues and I will be watching very closely as the drama of slowly but surely rising mortgage interest rates, a 15 year high in consumer confidence and the increased Millennial housing demand all come together here and around the country.
The Hermann London Group