Moody’s Analytics projects home prices will rise by only 3.5% in 2017 - following the 4.5% price increase of 2016 - which is a trend that is sure to have an effect on the real-estate market. Fortune staffer Kerry Close takes a look at how much one's position in the market will affect them this year, even more than in past years.
Close reports that those looking to scale down or first-time home buyers looking for starter home face a tight market with low inventory and greater competition. Flexibilty is a suggestion for those looking to go small:
And while no one wants to tackle a major overhaul, buyers who are willing to make at least some upgrades can get a better deal, notes Svenja Gudell, Zillow’s chief economist. You won’t be alone: More than half of home owners who bought in the past year got a place that needed at least some updates, according to a recent Zillow survey.