Friday February 15, 2013
We all like good news and in an era where the news is full of doom and gloom, I wanted to share with our readers some insight into the more optimistic 2013 housing market. Due to a strong finish in 2012, many real estate experts are claiming that for the most part there is good news in our future.
Keep reading until the end to find out about a fun promotion this month too!
Take a look at five 2013 housing predictions to be optimistic about …
More Supply and Demand
With many homebuyers and sellers patiently waiting for better times, 2013 brings with it an influx of greater supply of homes to be sold and more buyers ready to take the homeowner plunge!
Sales Up and Prices Down
Experts are saying that sales could be up as high as 7% while prices could decrease as much as 4%. That’s a good combination!
Higher Priced Homes Getting More Attention
Typically during a slow real estate market higher priced homes take the greatest hit. Sources are saying that in 2013 more expensive homes will be hitting the market and will be sold.
Decrease In Distressed Properties
The market will continue to deal with a significant amount of distressed properties due to economic circumstances however predictions show that we will retreat to more traditional levels in 2013.
More Short Sales
Greater efficiency in the process has allowed short sales to thrive in 2012 and 2013 should see a decline in foreclosures as short sales increase. This will help many distressed families avoid the pains of foreclosure!
As you can see, there is a lot to be optimistic about this year. While the road to recovery has been paved, it will be a slow and steady journey. Recovery is a marathon and not a sprint and there are still concerns on unnecessary regulation, the strict lending standards that will not lessen in 2013 and the overall economy.
Regardless of the concerns, we have plenty of other reasons to be positive about the future of our housing market. Owning a home is part of the American Dream, and a wonderful accomplishment. As rent prices continue to increase, home buying is starting to look like a great investment for 2013!
And talk about a recovery, sometimes all we need is a caffeine kick to boost our long day at work. If you are a real estate agent and you mention Colonial Homecrafters when you find yourself advertising our homes for resale we will give you a $5 Starbucks gift card. Enjoy a caffeine pick-me-up on us!