2013 – 2nd Quarter Real Estate Market Update
THE MARKET IS COMING BACK! BANKS ARE LENDING AGAIN! REAL ESTATE ENERGY IS HIGH!
After five years of a struggling economy and collapse in the real estate market, the untold story of 2013 could be the surprisingly strong comeback. A big driving force in this economic revival is the real estate market. We are entering a powerful, to multiyear upswing where you can see housing prices 12% higher than one year ago and a significant increase in new construction.
The market is like a trampoline, when it is pushed down far enough and long enough, it will eventually snap upward.
The market hadn’t been so weak since the 1930’s, Seminar: with cheap mlb jerseys inventory falling from 1.5 million before 2008 to less than 500,000 for the 3 years following. The tide has turned; the number of homes for sale is back to its long term average of about 2 Closed million nationwide. While there remains an & inventory of unmaintained foreclosures, that number has fallen and the excess supply is gone.
Demand is helping goose the market, with population growing roughly 8%, consumers deciding to buy for the first time is at NIEUW! an all-time high. The reason for this maybe that banks, with lots of help from the government, have bounced back and loans are more readily available. Most of the US’s large banks have balance sheets last seen 10 years ago generating large profits. Consumer loans are growing at a robust 8% so far in 2013.
What does all this mean if you are buying or selling your property today? It should take less time to sell a property in this market because of the lack of quantity and the higher quality of inventory is driving prices up. Technology, social media and creative marketing help your real estate agent put your property in front of the right buyers.
In wholesale mlb jerseys Broward County, we need new listings desperately in this market. The number of homes for sale dropped 19% but the number of homes sold are up 5%.
New listings are being sold in 34 days on average. The average sale price for homes in Broward County for this quarter und is $230,000; this is up 16% from this time last year. Fort Lauderdale is currently the 4th most popular city among International House Hunters according to US News and World Report.
For buyers in this market, the inventory quality has been raised; the ease of obtaining loans and the eagerness of your agent to find the perfect match for your needs puts your dream home within reach. What differentiates a buyer in today’s market? Finding the right team wholesale jerseys which includes a local lender and getting preapproved or prequalified. Cash buyers still have an edge in wholesale mlb jerseys this market but finding the right team to help you navigate the process Garden is also a key factor.
For all your real estate needs, Rosy Baron possesses a rare combination of compassion, expertise, integrity, tenacity, knowledge, accessibility and very high standards. Whether buying, selling or investing in Broward County, Re/Max First and the entire team of Gibson Group have the tools, the passion and the knowledge to help you achieve all your real estate goals. Choose an agent that has your best interests at heart.