Wow are things picking up! Showings, offers, phone calls. Good to have so much to do again. I have a house listed priced at $185k. I did a competing search of MLS yesterday and there are only 14 like homes on the market and 4 of those have accepted offers. Another seller has had a contingent offer on a home and their house just went under contract over the weekend. Buyers will soon learn that the market has shifted and they may not be able to be so picky or hesitant or there won't be anything for them to buy.
I am a Certified Residential Specialist (CRS). In reading the latest magazine this morning, some interesting market projections for 2013. Real estate is local so these are generalized national projections:
1) NAR (National Association of Realtors) projects a 6% increase in national median existing-home prices and another 5.1% in 2013 to $185,000
2) Existing home sales were forecast to rise 9% in 2012 to 4.64 million followed by a 8.7% increase to 5.05 million in 2013
3) Distressed sales were expected to decline from a 25% market share in 2012 to 8% in 2014
4) Housing starts were forecast to rise up to 776,000 in 2012 from 612,000 in 2011 and reach 1.13 million in 2013
5) New-home sales were expected to increase to 368,000 in 2012 from a record low of 301,000 in 2011, then grow to 575,000 in 2013
So, if you are a buyer, don't hesitate when you find a great house to buy, if you are a seller, things are finally looking up!
Comments (0)Subscribe to CommentsComment