2013: How Rising Prices Could Boost Housing Demand - Looking Back!

By
Real Estate Sales Representative with Keller Williams Cornerstone Realty

2013: How Rising Prices Could Boost Housing Demand - Looking Back!

 

The Ruiz/Miller TeamOn the first day of 2013 we wrote:

 

2013: How Rising Prices Could Boost Housing Demand

 

We wish we could claim to be prescient, but it actually was a Wall Street Journal acticle.

But look how accurate it was!  This Spring most of the country was selling like it was a fire sale.  Until inventory shortages slowed the market in the Summer.

Then as pressure decreased and sellers began to add to most inventories, mortgage rates jumped over 1% and the market slowed even more.

As rates eased back, our great government decided to take a two week paid vacation.  If that was not enough to shake Americans confidence, it put most govenement backed lenders (FHA & USDA) behind by 30+ days.  How do they get behind 30 days when they were only shutdown for 2 weeks?

So what will 2014 bring?  More bidding wars?  Higher mortgage rates?  

Or just higher taxes - that is a no brainer!

 

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Rainmaker
2,812,237
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale-Probate & Trust Specialist

Nov 27, 2013 05:57 AM #1
Rainmaker
1,221,667
Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

Bob, great overview of the year.  Let's finish 2013 with more sales in December.

Happy Thanksgiving.

Nov 27, 2013 08:23 AM #2
Rainmaker
847,057
Bob Miller
Keller Williams Cornerstone Realty - Ocala, FL
The Ocala Dream Team

Thanks Kathleen.  Happy Thanksgiving to you and yours as well.

Nov 27, 2013 10:15 PM #3
Rainmaker
847,057
Bob Miller
Keller Williams Cornerstone Realty - Ocala, FL
The Ocala Dream Team

Thanks Mary.  so far Ocala is about 1 year behind the rest of the country in the recovery.  We are thinking 2014 is going to be our year to shine!

Nov 27, 2013 10:16 PM #4
Rainmaker
4,138,421
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

It is interesting looking at the market, and wondering what the first part of 2014 will bring.   Will it be another season of "fire sales"?

Nov 29, 2013 10:15 PM #5
Rainmaker
847,057
Bob Miller
Keller Williams Cornerstone Realty - Ocala, FL
The Ocala Dream Team

Thanks Joan, since we have been behind the market ~6-12 months in Ocala, we think it will be a hot market in 2014.

Nov 30, 2013 12:48 AM #6
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Bob Miller

The Ocala Dream Team
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