5 big real-estate trends to watch in 2017
Published: Nov 16, 2016 7:43 p.m. ET | MarketWatch
Trump’s surprising White House win is just one dramatic change to factor in next year
A surprising twist toward the end of 2016 with the election of real estate magnate Donald Trump as president is likely to presage some dramatic changes in 2017 for the housing industry, which saw healthy increases in values this year, thanks to factors including low interest rates, lower gas prices, stronger wage growth and millennials getting off the fence and entering the market.
Still, as demonstrated by the Nov. 8 presidential election, anything can happen. Here are five things to watch for in real estate in 2017 — don’t get blindsided:
Commercial use of unmanned aerial vehicles (UAVs), or drones, in 2017 has been cleared for takeoff by the Federal Aviation Administration, and the nascent use of drones by the real-estate industry is likely to expand dramatically next year, according to several analysts.
“Location, location, location has now become perspective, perspective, perspective,” said Steve McIrvin, chief executive of Autel Robotics USA, a Bothell, Wash.–based drone manufacturer. “If you have a property [to sell] with more than an acre of land or a unique perspective, it’s a good reason to bring in a drone.”
While the use of drones to create those flyovers of properties for real-estate agents began to rise this year, home buyers and sellers will be able to use them as well by next year, as operators will no longer need a commercial pilot’s license to fly, although some flights will need the FAA’s or local tower permission, along with a flight plan filed online.