Home-price indexes started rising in 2012, and by all accounts, will continue to trend up.
Jupiter, FL (PRWEB) February 04, 2013
Homesellers can expect competitive pricing this year as the real-estate market continues to move forward in its recovery, the National Association of Realtors' chief economist told Fox Business in January. (1)
That means homebuyers need to be on their toes, have their personal credit affairs in order and line up their mortgage approvals several months ahead of time not only because of the advantage sellers have but also because of new lending laws.
Agents at Waterfront Properties and Club Communities can help homesellers as they hop into the proverbial driver’s seat and put their South Florida homes for sale on the market. Everyone realizes the time is right to sell.
Jed Kolko, Trulia’s chief economist, said the relatively low inventory of homes will translate into pent-up demand for housing as the year unfolds. That only can help sellers. Here are some other expectations from real-estate analysts for 2013:
1) Mortgage-interest rates will remain at near-record lows for the foreseeable future. The National Association of Realtors’ chief economist, Lawrence Yun, said the rate might close in on 4 percent, but that it still will be down from the rates of years past.
2) Home-price indexes started rising in 2012, and by all accounts, will continue to trend up. That will motivate homeowners who have been sidelined by depressed prices and homebuyers who don’t want to risk being outpaced financially by improving values. The status of the market has the Mortgage Bankers Association predicting a 55-percent increase in home-loan applications from now through December.
3) CoreLogic reported there will be a 6-percent home-price increase this year, compared with 2012, and that will perpetuate confidence in builders, which will fuel new housing starts.
Agents at Waterfront Properties and Club Communities are seeing some of the experts’ predictions play out in the local landscape, which includes Jupiter homes for sale, as well as waterfront property in Palm Beach Gardens and Hobe Sound, a coastal community in southern Martin County.
For information about listing your home with a leading brokerage in Palm Beach County, call 561-746-7272.
(1) Housing Market in 2013: What To Expect / Jan. 17. 2013