2013 is shaping up to become a seller friendly in residential real estate. A recent poll by Fannie Mae indicated a bullish market for housing. Polls concluded that many American’s had a more positive outlook on the job market than in recent times past. This coincides with data that shows an increase of 157,000 jobs in January, 196,000 in December, and 247,000 jobs in November. More jobs created means more interest in home ownership. This rising demand will lead to higher prices in homes that will in turn draw more inventories into the market. Housing prices rose 8.3% year-over-year in December 2012, marking the biggest year-over-year increase since May 06’. Things are looking up for the housing and mortgage market that has seen lending rates rise almost every week since late November.
Pelican Real Estate News Archives
Archive for February, 2013
Panama City Beach Mardi Gras is a two day festival and parade as the Krewe of Dominique Youx celebrates the season. Come out and jopin the fun Friday & Saturday in the heart of Pier Park for one of the most fabulous Mardi Gras events around!
Housing inventory continues to decline.
At the end of November, 2.03 million existing homes were available for sale―a 4.8 month supply at the current sales pace. There haven’t been this few homes on the market since September 2005, when the supply would have lasted 4.6 months.
Asking prices of homes listed for sale on real estate portal Trulia.com in January were up from a year ago in 86 of the 100 largest U.S. metros, according to a monthly report released today.
The report, which covers roughly 4.5 million for-sale and for-rent properties listed on Trulia through Jan. 31, showed asking prices up 5.9 percent from a year ago, and growing by a seasonally adjusted 0.9 percent from December to January — the biggest month-over-month gain since March 2012.