It’s been a long 4-years for property values. Ever since the bubble burst of 2008, which led to the worst economic crash since the 1930’s, housing and mortgage experts have been hyper-focused on property values, waiting to see hope of a real, and sustainable recovery.
Well, for anyone looking to buy a house, be sure to read on and use the info to begin your 2013 property search planning.
According to a recent article in Bloomberg.com, as of July 2012, “Prices for single-family homes rose in 81 percent of U.S. cities as the property market extends a recovery from the worst crash since the 1930s.
The median sales price increased in the third quarter from a year earlier in 120 of 149 metropolitan areas measured, the National Association of Realtors said in a report today. In the second quarter, 110 areas had gains.”
Additionally, the Federal Housing Association reports, “U.S. house prices rose 1.1 percent from the second quarter to the third quarter of 2012.”
Combine the increases in housing prices with the continued rise in property value, and the picture looks pretty bright for real estate in 2103.
Bloomberg goes on to report that “ (Property) Values are climbing after a six-year slump as buyers compete for a shrinking supply of properties listed for sale. U.S. home prices jumped 5 percent in September from a year earlier, the biggest 12-month increase since July 2006.”
So, what does all this mean to someone in the market to buy a house in the coming year?
Steadily increasing property values means that as 2013 blooms, home prices will continue to creep up. It’s really important for anyone looking to buy that they begin the real estate search process now. The market is, finally, solidifying, and that means, sometime in the near future, so will home prices.
If you want to still get in on lower house prices, reach out to a local realtor today and let them know what your dream home is. If you already own a home and are looking to sell, the good news is that those home values are expected to continue to increase so you can potentially get the most for your home sale than at any time in the last four years.
Are you ready to buy a home? Work fast as property values continue to climb and make your move into the perfect home in 2013.
Read the entire Bloomberg article here.