What to Look for in the Real Estate Market in 2017


Real Estate Market pic

Real Estate Market
Image: forbes.com

An accomplished entrepreneur, Lew McGinnis has built businesses in a wide range of industries, including everything from selling eggs to running an automotive dealership. Lew McGinnis currently owns and operates a large real estate investment firm in Nicholls Hill, Oklahoma.

Breaking down the economy from 2016 and its potential in 2017, some analysts anticipate that real estate could serve as the driving force for growth across the board. Here are a few ways the property market may play out this year.

1. Gradually rising prices

In 2016, housing prices increased consistently on a monthly basis. That trend should continue, but at a much slower pace in 2017. This slowing will be due in part to higher interest rates set by the Federal Reserve, which may adjust rates again this year.

2. Increasing housing supply

Along with the prices going up, the supply of homes should increase as a result of improving homebuilder sentiment. Easier access to credit has helped fuel this shift, which comes in contrast to the trend of last year, when inventory was on the decline.

3. Growth of medium-sized cities

With the economy introducing new jobs, building in many of the major cities has failed to keep up with the pace of growth. The response of builders and homebuyers has placed a new focus on smaller properties, and similar activity should pick up even further in 2017.


Arizona-Sonora Desert Museum Combats Buffelgrass

Buffelgrass pic

Image: desertmuseum.org

An experienced real estate investor and entrepreneur, Lew McGinnis is also an active philanthropist who has held numerous leadership positions in the Methodist Church and the wider community. Lew McGinnis is the former director of the Tucson Opera Company, the Pima Air Museum, and the Arizona-Sonora Desert Museum Foundation.

Since its establishment in 1952, the Arizona-Sonora Desert Museum has worked to preserve and protect the unique flora and fauna of the Sonora Desert region. As part of its conservation efforts, the museum strives to prevent the spread of buffelgrass (Pennisetum ciliare), an invasive and highly flammable species that puts the area at a high risk of wildfire.

Additionally, buffelgrass competes with native species for sunlight and nutrients, which leads to potentially dwindling numbers of the iconic saguaro cactus. The Arizona-Sonora Desert Museum joins the Pima Association of Governments and Sky Island Alliance in raising public awareness of the problem of buffelgrass and working toward long-term solutions.