Market Trends that will lead us into the New Year
Even after the government shutdown, and a less than ideal economy standing, the housing market has made great improvements in the last months of the year. The housing market will see this increase continue through the end of the year and into early 2014. So despite the economic pitfalls, our housing market continues to chug along. Freddie Mac’s vice president, Frank Nothaft, says that the housing recovery should continue to absorb the economic shocks in stride and improve next year.
As of right now, the house price index has increased 12.8% since last year, which is the biggest increase since before the bubble burst. A slow increase in housing prices is not a bad thing though. To avoid another housing bubble burst, the increase is better left in a slow state. The prices are still relatively lower, but by the end of 2014, it is expected to increase enough to get everyone above water.
For buyers, this is the best market to buy in. Even though the inventory is tight, the buying market is looking at it’s best options now. There are plenty of good interest rates available for the interested buyer.
Thanks for reading!