Locally, the Conejo Valley and surrounding area real estate market has turned around dramatically. Demand is very high, supply is low, and prices are on the way up. Here are 13 reasons 2013 should be a very could year for the national housing market.
Posted by Brian Summerfield in REALTOR® Magazine
When we look back on 2012 a long time from now, it may be viewed as the first year of the recovery, the year in which real estate reversed its course and moved in a more positive direction.
With that in mind, here are 13 reasons — courtesy of REALTOR® Magazine’s online news — why real estate pros can look forward to next year:
1. There’s greater optimism about increasing home values.
2. More new households are forming.
3. Home shoppers are feeling a greater sense of urgency.
4. Home ownership remains a goal of members of the Millennial generation.
5. Foreclosure starts are falling to pre-housing-bust levels.
6. Interest rates should remain low through next year’s selling season.
7. Loan demand for home purchases is climbing.
8. More Americans say it’s a good time to sell.
9. The number of improving housing markets is going up.
10. Job creation is expected to provide a much-needed boost to the commercial sector.
12. As housing values rise and equity returns, fewer home owners are underwater.
13. Real estate is contributing to an overall economic recovery.
That’s not to say there aren’t challenges. Lending remains tight, there’s a large foreclosure backlog, and regulatory challenges and the fiscal cliff loom ahead. But on balance, real estate appears to have a bright future in 2013.