Grand Rapids ranked as No. 4 housing market ‘to watch’ in US
Grand Rapids is considered one of the nation’s top housing markets for 2017.
Trulia says Grand Rapids is its No. 4 “housing market to watch in 2017,” a ranking topped by three Florida cities. Florida cities make up four of the top five and six of the top 10 markets to watch.
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The ranking is included in Trulia’s annual “Housing Outlook Report,” which found a “dramatic shift in housing sentiments since the election.”
Trulia conducted two surveys near the end of 2016, including one before the election in October and one after the election in the middle of November. Both surveys were conducted by Harris Poll and reached 2,000 people.
The results found Republicans feeling a “renewed positivity toward the housing market in 2017,” with the expectation it would be a better time to buy than 2016. The swing was 26 percentage points more optimistic.
Meanwhile, Democrats’ optimism fell 23 percentage points following the election.
The survey also found that for the first time since 2011, fewer Americans have homeownership in their American Dream. Still, the survey found 83 percent of 18-34 year olds expect to buy a home, but 72 percent don’t expect to do so before the end of 2018.
Trulia also found mortgage rates have risen 4 percent since the election.
The biggest challenges for young potential homeowners are saving for a down payment, poor credit and rising home prices, according to Trulia.
Trulia’s top 10 markets “to watch” are based on job growth potential and past growth, low vacancy rates, high affordability, online home searches on Trulia and a large share of Republican households showing optimism.
1. Jacksonville, Florida
2. Cape Coral, Florida
3. Deltona-Daytona Beach-Ormond Beach, Florida
4. Grand Rapids
5. Tampa-St. Petersburg, Florida
6. Colorado Springs, Colorado
7. Charleston, South Carolina
8. San Antonio, Texas
10. North Port-Sarasota-Bradenton, Florida