Tuesday, January 22, 2013

NAR's 2013 Economic Outlook - "Steady Market Gains Ahead"

Sounds promising, doesn't it? I'm glad our smart, statistics-based friends at the National Association of Realtors just put this report out in the January/February 2013 issue of the Realtor Magazine. You know why? Because it completely corroborates what has been the pulse and feel for where the trends have been going on the street-level!

Check out what they are saying:

My concerns: inventory still feels like it's going to be low through 2014 - which will still mean multiple offers, and difficulty for a lot of the first-time buyers who are transitioning from being renters to homeowners. It's also going to take the builders and developers some time to move forward on their projects so it could still take some time to loosen up inventory.

That being said, if purchasing a home is in your life plan -- I'm looking at you, Gen Xers and Yers, the interest rates being what they are, are currently maximizing your buying potential. A higher bump in interest rates could mean you're priced out of that range. If you can swing it, I lovingly say get off the fence now. :)

Happy Buying!

Caroline Choi Real Estate
Caroline Sells The City

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