It may be cold outside but as we look forward to spring, the U.S. housing market continues to grow and improve. For homeowners, the continued growth in the housing market is fantastic news.
In 2012, the housing market started to show the first signs of improvement. 2013 was a landmark year in which home prices skyrocketed, increasing by double-digit year-over-year percentages. A number of factors, such as fewer distressed properties (those sold in a short sale or foreclosure), increasing demand, and low supply fueled the dramatic price increases and helped homeowners nationwide regain much of the equity they lost during the housing market crash.
Last year, the market continued to improve, though at a slower, more sustainable rate. With the number of distressed properties already greatly reduced, further reductions in distressed properties did not have as great an impact on prices. Additionally, rising prices helped more homeowners regain equity, and more homeowners were finally able to list their homes, unlocking more supply to meet the rising demand.
All told, from 2011 to the end of 2014, home prices increased by around 20 percent! Thanks to the increase in prices, more than five million underwater homeowners, or homeowners who owned more on their homes than the homes were worth, returned to positive equity.
Today, the housing market finds itself in “full bloom,” steadily improving and bringing even more good news to homeowners. With the growth in home prices slowing returning to normal levels and mortgage rates still historically low, now is the perfect time to sell for many homeowners!
For more information on todays housing market and why now may be the perfect time to sell your home, read my report entitled “The Housing Market Is in Full Bloom”. You can download the report from my website www.donnahelpshomeowners.INFO
To Your Success!