Now that we’ve seen sustained growth in the Real Estate market, industry experts are starting to study what’s making the recovery work in the hopes of finding out how long the recovery will continue into the future.
What’s Driving The Housing Recovery?
We know that some of the things that are driving the housing recovery across the United States are: rising home values, spending cuts from the government, historically low mortgage interest rates and an overall shortage of home inventory, especially in places like Orange County CA.
Prolonged Recovery Into 2014
Financial analysts and Real Estate experts agree that the housing recovery is expected to continue through 2013 with home priced expected to increase by over 5% and possibly 4% in 2014.
For those people who plan on buying a home before 2014, new home prices are expected to go up by over 4% to $254,000 and potentially 3.5% in 2014.
More Homeowners Finally Above Water
One of the huge benefits in the growth of the Real Estate market is that there are now more homeowners who are “above water” than compared to recent years. As home values go up across the United States, this has only increased the value of underwater homes as well and has enabled those homeowners to get out of their homes, AND recoup their loss in home values that was experienced during the economic recession.
Time To Sell Now?
It doesn’t matter if a someone owns a home in Orange County or anywhere else in the United States, they should consider selling their homes now to take advantage of the increase in demand for homes and the large number of homebuyers on the market, compared to recent years that have been prequalified for mortgage loans.
To learn more about the latest Real Estate news or to view the latest Orange County homes for sale, contact Fred Sed & Associates today at (949) 272-0125.