There is no doubt that the housing market is coming back nicely. What, if anything, could slow down the current momentum? It will likely be sellers’ over exuberance when it comes to pricing. There is little doubt that house prices have appreciated over the last twelve months in most regions of the country. However, with both the inventory of homes for sale and interest rates increasing, be careful to not over judge what the market can bare. Trulia just reported that asking prices have jumped dramatically and the increase is accelerating. No expert is expecting home prices to shoot up 18% in the next twelve months. If anything, price appreciation may slow as rates and inventories increase. Investors will begin to slow their purchases and the first-time buyers expected to take their place will be working within a pre-set budget in many cases. As rates rise ... buyers purchase power goes down. This decrease will impact home values. Its unlikely it will cause an immediate decrease in prices. However, it will likely cause current rates of appreciation to slow. If you are thinking about selling your home, don’t get carried away with current headlines about home price increases that have taken place over the last twelve months. Instead, call me for a current "realistic" assessment of how your home stacks up to the other homes available on the market right now.
Posted on: Wed, 17 Jul 2013 05:21:59 +0000
Trending Topics
Recently Viewed Topics
© 2015