2012 was a great year for the real estate recovery and nationwide home sales finished strong in December at a growth rate of 0.9 percent, compared to the weak start that the real estate market had in the first quarter of 2012.
Great Expectations For 2013
For 2013, many top Orange County Realtors and listing agents across the state are expecting that the growth we saw in the second half of 2012 will continue at a moderate pace of at least five percent but, with the recent Fiscal Cliff deal, some economists are expecting that the growth in the nationwide real estate market will begin to slow down and possibly go into a recessionary zone, but so far that remains to be seen.
2013 Real Estate Deals
Orange County Real Estate agents are looking forward to 2013 and are encouraging prospective home buyers to enter the real estate market now because, with 30 year, fixed, mortgage interest rates still at a low 3.625% (Wells Fargo, 1/11/13), there’s never been a better time for anyone to buy a home in this area.
With more home buyers entering the real estate market in 2013, there will of course be more competition, and that will result in more multiple offers for Orange County homes. Home buyers who want to have a competitive advantage in this Real Estate market should work with a Realtor who is aggressive and willing to go the extra mile to serve their clients.
Time To Hold Or Flip?
For home buyers who plan on entering the Orange County real estate market in 2013, this year will be a great time for homebuyers to buy and hold onto a home because, interest rates will only go up and it will no time before a homeowner will gain equity in their home.
To learn more about the 2013 Real Estate market and what you can expect, contact Fred Sed & Associates today by calling (949) 272-0125.