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I’ve been doing a lot of homework, looking at what went on in the real estate market in 2012 and also reading about what we can expect in 2013. According to the real estate blog “Keeping Current Matters,” there are five trends to consider when looking into real estate this year. Here are the highlights.
Demand will surge in 2013. We already saw a surge in December with many
buyers and many properties under contract.
There’s reason to think this type of demand will continue.
Some of the demand will come from the younger generation. Those in between the ages
of 18 and 35 believe in home ownership and, in fact, 43% own their own homes,
72% want to own a home, and 93% who rent plan to buy. These recent studies may indicate many of
these young adults will become homeowners in 2013.
Prices will increase. It’s all about supply and demand. The demand will continue to be strong, but since
the supply is shrinking, prices will increase.
Move-up sellers will return to the marketplace. These buyers thought
negatively about the market, but now that the market is improving and they feel
they have enough equity in their home, they’re ready to move off the sidelines
and into the home of their dreams. The timing
is right.
The real estate agent will need to be an expert because that’s what
the consumer expects. Remember, your agent will be your best
advocate. Investing in a home is the
biggest purchase you’ll make so it’s important have a professional by your
side. This person can help you land your
dream home and avoid home-buyer
mistakes. Your agent will also connect
you with the right people (a lender, home inspector, attorney) to make the
entire process as smooth as possible.
It’s that time of the year to
make resolutions. My New Year’s
resolution is to be healthy, eat healthy and be the best I can be. What’s yours?
Happy New Year!
If you’d like to see the best deals for 2013,
contact us today at 908.273.2991.
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