Lennox Scott: 2017 ‘Incredible’ for Real Estate

In the following commentary, Lennox Scott, chairman and CEO of John L. Scott Real Estate, offers his 2017 housing forecast for the Puget Sound market.
What an exciting time in real estate! 2016 was one of the best years ever, and I predict 2017 is going to be just as incredible. Strong job growth, amazing interest rates and a shortage of inventory will continue to fuel home appreciation and sales activity. We expect to see 8 percent price appreciation in the more affordable and mid-price ranges