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Share Name | Share Symbol | Market | Type |
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Zillow Group Inc | NASDAQ:Z | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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1.71 | 3.31% | 53.35 | 53.34 | 53.38 | 53.93 | 51.88 | 52.00 | 2,613,955 | 18:45:31 |
SAN FRANCISCO, Dec. 7, 2016 /PRNewswire/ -- Trulia®, a leading destination for homebuyers and renters, today released its annual 2017 Housing Outlook Report. The Trulia® survey reveals a dramatic shift in housing sentiments since the election in addition to new predictions for mortgage rates, home prices, and home inventory, as well as the top real estate markets to watch in 2017.
Election Outcome Renews Republicans, Depresses Democrats
The surprising outcome of the 2016 presidential election injected both optimism and pessimism into consumers' expectations about the housing market in the coming year. Two surveys were conducted online among over 2,000 U.S. adults each, one before the Presidential Election (October 26-28) and one after the election (November 15-17), by Harris Poll on behalf of Trulia, key findings include:
Additionally, as mortgage rates have risen to nearly 4% since the election, renters who wish to buy generally are not concerned about rates stifling their ability to buy a home (18%). Instead, saving for a down payment (59%), having poor credit (38%), and rising home prices (35%) appear to be bigger challenges for home buyers. Moreover, though home inventory is gradually trending upwards in supply-constrained markets, equal or greater growth in demand could push home prices up.
Sunshine State Dominates Among Housing Markets to Watch in 2017
Looking at the 100 largest U.S. metros, Trulia identified 10 real estate markets that are poised for growth based on strong job growth over the past year, low vacancy rates, high affordability, online home searches on Trulia, and a large share of Republican households given their optimism for housing in 2017. Based on these key metrics, Florida offers market conditions poised for growth in metro areas across the state, with Jacksonville, Fla., Cape Coral-Fort Myers, Fla., and Deltona-Daytona Beach, Fla., taking the top three spots.
The top 10 housing markets to watch in 2017 are:
1. Jacksonville, FL
2. Cape Coral – Fort Myers, FL
3. Deltona-Daytona Beach-Ormond Beach, FL
4. Grand Rapids, MI
5. Tampa-St. Petersburg, FL
6. Colorado Springs, CO
7. Charleston, SC
8. San Antonio, TX
9. Phoenix, AZ
10. North Port-Sarasota-Bradenton, FL
Quotes from Trulia's Chief Economist Ralph McLaughlin:
Survey Methodology
The 2016 surveys were conducted online within the United States between October 26th and 28th among 2,007 adults (aged 18 and older) and again on November 15th and 17th, 2016 among 2,081 adults (aged 18 and over) by Harris Poll on behalf of Trulia via its Quick Query omnibus product.
About Trulia
Trulia® is a vibrant home shopping marketplace, focused on giving homebuyers, sellers, and renters the information they need to make better decisions. On mobile and the Web, Trulia provides house hunters with insights and unique information about properties, neighborhoods, and real estate agents. Additionally, Trulia offers data and information about schools, crimes, commute times, and the real estate market.
Launched in 2005, Trulia is based in San Francisco and is owned and operated by Zillow Group (NASDAQ: Z and ZG).
Trulia is a registered trademark of Trulia, LLC.
1 Conducted by Harris Poll on behalf of Trulia from November 19-23, 2015, among 2,016 adults ages 18 and older.
MEDIA CONTACT:
Cecilia Xia
pr@trulia.com
415-400-7222
Logo - http://photos.prnewswire.com/prnh/20160115/322861LOGO
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/trulias-american-dream-survey-reveals-renewed-republican-housing-optimism-in-2017-300374300.html
SOURCE Trulia
Copyright 2016 PR Newswire
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