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These 5 Trends Will Shape the Housing Market for 2017
Source:  Fortune

If the U.S. economy is to hit escape velocity this year, you can expect the real estate sector to serve as its rocket fuel.
At its most broadly defined, housing can be counted on to compose 15 percent of GDP.  It hasn't done that much heavy lifting lately, however.  That's because in the wake of the real estate bubble, lending standards have remained tight, while the cautious builders who survived the crisis have been reluctant to dive headfirst into expanding their operations again.

What You Should Know
- The Southern California six-county region's median home price reached $465,000 last month, up 5.9 percent from November 2015, real estate data firm CoreLogic said.  Sales soared 24.1 percent.

- The strong sales jump happened largeley because last year's new lending regulations delayed deals that otherwise would have closed in November 2015, noted CoreLogic analyst Andrew LePage.

- Median prices climbed, year-over-year, in all six counties:  In Los Angeles County, the median price rose 8.4 percent to $530,000; in Orange County, 5.9 percent to $660,000; in Ventura County, 2.9 percent to $525,000; in San Bernadino County, 5.7 percent to $295,000; in Riverside County, 6.8 percent to $340,000; and in San Diego County, 5.6 percent to $495,000.

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