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any predictions for the 2013 real estate market? what was the 4th quarter real estate reports showing?
i think people are hopeful and somewhat optimistic, despite political craziness, and the uncertainty of the future of many circumstances.
Our market continues to be very strong. Increased costs in land, materials and labor will mean higher builder prices. Usually when builders go up it pulls the price of other homes higher also.
In TX 2012 was a great year, 2013 will be even better.
Interest rates will probably need to rise due to inflation. Not sure the Govt will allow.
any predictions for the 2013 real estate market? what was the 4th quarter real estate reports showing?
i think people are hopeful and somewhat optimistic, despite political craziness, and the uncertainty of the future of many circumstances.
Agree with everyone above....In Texas, Houston inner Beltway specifically, inventory is extremely low. Days on market is low, and there are tons of new starts...more buyers than sellers for sure. I think that overall the Houston market is very strong. Suburbs are good, but there is still so much new construction in Houston suburbs that resale is up only slightly or at original price unless your looking for a specific school and you are willing to pay the premium to get into it.
New construction in some areas is pulling prices up, but in some others the new builds are cheaper...that is hurting overall consumption. Also the massive influx of new apartments is affecting properties that are too close to them...Houston has something like 9000 apartment units under construction right now...that is going to have an effect when they are complete.
I think it depends on who you ask. Realtors will talk about "best time to buy/sell a house" no matter what
Ayep.
No, onto the OP's question: It boils down to "Why are you asking?" Have you been thinking about buying a home, thinking about selling your home?
I think the market is great for buyers, and mediocre for sellers. That's the name of the game, really. One side always has the edge, and only briefly will they be in equilibrium.
The reason for my stance: Interest rates are very low, and generally, one can buy a house for the price of rent, if not lower (Including the entire PITI). Low interest rates, high inventory in most regions (We still have a backlog of REO's, and short sales) put sellers in a position of lots of supply, and low demand (Because credit restrictions have been tightened).
That being said, the individual markets will yield their own answers. Western New York? I feel as if it's a seller's market right now, due to low supply, and high demand (Low REO and shortsales, normal house turnover sales dominate right now). Coupled with median incomes being right near average inventory price, credit restrictions don't play very much at all. Southern Florida might be (I have no idea, really) be the complete opposite. A few weeks of research will get your bearings into your area.
I feel that sellers in DFW may not get the price of their liking but its easier to sell as inventory is low. If price is reasonable than homes are getting multiple offers. If things stayed that way then we may witness first ever biding wars of our area.
Depends entirely on where you're looking. Manhattan and La Jolla have much different markets from rural Arkansas because they attract totally different kinds of investors and home-owners. The prosperous communities will likely retain strong real estate growth, relatively speaking.
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