2013 is already shaping up to be a promising year for the U.S. housing market. A favorable end to 2012, thanks to a strong rebound in the market, have led RE/MAX Co-Founder and Chairman Dave Liniger to go on the record with his top ten predictions for the coming 12 months.
“Although interest rates have been at historic lows, they have not been the driving force behind this recovery. There’s no single factor driving this market; it’s been a combination of low prices, low inventory, improving consumer confidence and a huge pent-up demand. That was true throughout 2012 and will continue to be true in 2013,” Liniger says.
Liniger has gone as far as saying that 2013 will be the best year in real estate in many years (yay!), but a fragile, obstacle laced recovery is not yet complete.
Liniger’s top 10 predictions, revealed via a video presentation, are:
1. More homebuyers and sellers will come back to the market
2. Homes sales will rise by 6-7% and prices will rise by 3-4%
3. The inventory of homes for sale will hit a bottom
4. Higher priced homes will begin to sell
5. Distressed property numbers will continue to fall
6. Shadow inventory will continue to fall
7. The number of short sale closings will rise to a peak
8. Record low mortgage rates will rise slightly by year-end
9. Lending will remain tight
10. Home affordability to remain the best in years
“If housing can stay on the road to recovery, it’s possible that it can pull the rest of the economy along with it,” he says enthusiastically.