our blog


5 Predictions for Renters and Home Buyers in 2017

by | Mar 28, 2020 | Real Estate

If you’re making big decisions about housing this year, you’ll want to keep these factors in mind.

If you’re a renter, you (and your bank account) probably know this already: Over the past decade, rents have been going up. And up. In many parts of the country, in fact, rents have been increasing at a faster rate than home values.

The good news? The rate of growth has gradually slowed since its peak in July 2015, according to Zillow Senior Economist Dr. Skylar Olsen.

While rents aren’t likely to drop anytime soon, their upward slope will be like a more moderate hillside instead of a glacial mountain — with notable exceptions in hot markets. (West Coasters, keep your climbing gear handy.)

Here are five top predictions for the rental market this year.

Rents will become more affordable

Rising rents will stabilize throughout 2017, with overall U.S. rental appreciation nearly flat, around 1.5 percent.

The hottest markets, like Seattle, Portland, the Bay Area, San Diego and Denver, will continue to see appreciation above 5 percent (and much higher in some neighborhoods), so it could take several more years before renters in those regions find some relief.

Most of the slowdown in rental appreciation is due to an upsurge in multifamily construction. More supply to meet the continuing demand helps keep the market in check, which is good news for renters.

Plus, incomes are rising nationwide, so the percentage of income spent on rent should become more reasonable.

More millennials will buy homes

The homeownership rate has been falling annually since 2006, and it remains at a near-historic low.

While new households are always emerging — kids move out on their own, couples split up, roommates find their own places — most of those households are rentals.

This trend may soon change, however, as more millennials start getting married or having children — milestones that often coincide with buying a home.

While they’re not all rushing to buy just yet, they plan to: The Zillow Housing Confidence Index found that millennials, more than any other generation, consider homeownership integral to the American Dream, and see it as a path toward greater personal freedom.

Populations will shift

Urban density will increase, but the suburban migration will continue.

While millennials might be thinking about upsizing, older Gen Xers and boomers will be downsizing and looking for walkable neighborhoods, creating more competition for housing in urban areas.

In many cities, rents have risen fastest near the downtown core, where construction hasn’t kept pace with demand.

Low inventory and high rents will continue to push renters out of the city in search of affordable housing, and, as a result, more people will be driving to work — a reversal of a decade-long trend — as they move outside areas served by public transit.

Denser development of smaller homes near transit and urban centers will likely increase in 2017 to address the inventory (and affordability) problem.

The suburban migration is not just a reaction to affordability, however. For families seeking better schools, more square footage and a sense of security, the suburbs have a lot to offer. The Zillow Group Report on Consumer Housing Trends found that after affordability, renters and buyers alike list neighborhood safety as a top priority.

New homes will be priced higher

Nationwide, construction of single-family homes has not kept up with demand, and that may not change anytime soon. The home construction workforce is shrinking, while construction wages have risen.

Labor may become even scarcer as immigration policies tighten. It’s estimated that undocumented workers make up 10 to 20 percent of the single-family construction labor force, so the loss of those workers could drive up wages even further.

The combination of rising wages and high land prices has led more builders to focus on the top-tier market — but those homes are out of reach for many first-time buyers. If there aren’t enough entry-level homes to purchase, those would-be buyers will continue to rent.

Interest rates will increase

Economists have been expecting interest rates to go up, and the Federal Reserve fulfilled those expectations with its modest rate increase this month. As unemployment rates fall and wages continue to grow, additional rate hikes are likely.

With a new administration in the White House supporting low interest rates, however, the Fed may encounter renewed pressure to keep rates down.


Powered by WPeMatico




An accomplished real estate professional with a distinguished track record of success.  She has spent over 17 years in Atlanta representing buyers and sellers of $1M+ properties and is a tremendous negotiator.  Micki has a unique knack for forming close and authentic relationships with her clients; she steps beyond the real estate transaction and provide them with after care.  Micki has unparalleled marketplace knowledge and thrives on being resourceful; she studies and follows the data beyond the average agent.



Set up a FREE consultation with me today. I’ll be sure to make your real estate experience as unique, simple, and satisfying as I can.

CSRA Market Update | Augusta Metro Real Estate Conditions | Augusta Realtor Micki Esposito

It’s All About Supply and Demand | HOME PRICES

As we enter the summer months and work through the challenges associated with the current health crisis, many are wondering what impact the economic slowdown will have on home prices. Looking at the big picture, supply and demand will give us the clearest idea of...


  Welcome to 215 Hornsby Lane located in the luxurious River Island neighborhood. This stunning move-in ready home is nestled in the charming cottage section of River Island, offering a lifestyle that combines modern luxury with timeless appeal. With a listing...

Real Estate Market Trends?

The Changing Real Estate Market: Remote Work and Technology The real estate industry is constantly evolving, my friend. Trends and factors shape how buyers, sellers, and agents navigate the market. Today, I want to discuss the latest market trends that are shaping the...

17 Hobbies Just Right to Become Money-Making Side Hustles

If you’re looking to make some extra money, side gigs like babysitting and Uber are great options, but they aren’t the only ones. Whether the pandemic quarantine ignited a love of baking or the excitement of shopping in stores again hasn’t worn off, you can find ways...

How To Sell Your Home With Better Listing Photos

Did you know that over 90 percent of buyers start their home search online, and most first impressions are made from online photos? If you want to make sure that people are interested in buying your home, you need to make sure that the impression it makes is a good...

6 Ways to Overcome the Emotions of Selling a Home

Selling your home can stir up a range of emotions you may not have expected. While you may feel excited about the opportunity to move into a new house, you may also experience feelings of sadness or loss as you prepare to sell your home. Use these tips to help...


            Don’t lose potential buyers due to any flaws or unsightliness on the exterior of your home. Use the tips below to wow people at the curb and get them in the door! The best part is, you don’t have to spend a fortune or break...

What does it mean to you: the Future of Home Price Appreciation?

Many consumers are wondering what will happen with home values over the next few years. Some are concerned that the recent run-up in home prices will lead to a situation similar to the housing crash 15 years ago. However, experts say the market is totally different...


"The Best of the Best"

“Best of the best! If you are looking for a personal, boutique-style home purchasing experience, I highly recommend Momentous Realty. Micki Esposito was fantastic! We discussed what I was looking for in a home in detail, and that same day, she emailed me a short list of properties tailored to what I asked for. I felt like she truly listened. No generic emails with 50 listings of houses you have to weed through yourself. She weeded through the fluff and was able to focus the search on homes I would actually consider. As a result, my home search actually went much quicker than I anticipated. Micki was there from the beginning and even after the closing. She was not only my realtor, she was an advisor and my advocate behind the scenes. I believe that because of all her hard work, the entire process was efficient and much more painless than I expected. I would not hesitate to work with her again and I cannot say enough good things about Micki!”

– Dr. A. Jeffery

Her in depth Knowledge & Integrity are clear from the start.

We were so lucky to have worked with Momentous Realty | Micki on our home purchase. Her involvement in leveraging our position in our home purchase and synergistic solutions are the very reason why we are homeowners today. Her service was beyond compare, even a more powerful statement knowing that we aren’t her typical market. Her strong in-depth knowledge + integrity are clear from the start.

– M/M Woodson, Senior Executives

The results were amazing

She was very professional. Kept us informed every step of the way for a quick worry-free closing. Definitely will use her again.

– Dathne Johnson

One Call That's All...

MICKI is awesome she will help you with all your real estate needs. One call that’s all. Thank you for everything Micki.

– Stacey Manson

The epitome of integrity and grace.

Micki is the epitome of integrity and grace. I love and appreciate her wisdom and willingness to share her words of knowledge with those that she encounters. I can always look to Micki to be uplifted and encouraged.

– Lease Youmans

Our Go-To Realtor, knowledgeable, professional & dependable.

We couldn’t have been any happier with Micki and her professionalism throughout our temporary relocation process to Metropolitan Atlanta during filming requirements. Almost immediately, Micki and her team provided us with leasing options based upon our family requirements. She thoroughly explained the leasing process, attended every showing with us, and provided us with enough information to ultimately make our decision to purchase another home within the area.

MICKI, thank you and your team for the amazing work!

– M/M Washington, Entertainment Industry



Pin It on Pinterest

Share This