Many prospective home buyers and sellers have chosen to wait entering the real estate market because of uncertainty about its ever-changing conditions. Sellers want the most for their home and buyers want the most home for their money. While both sides hesitancy is understandable the housing market cannot recover from the drastic drops seen a few years ago until people jump back in. According to a recent US News article, "Home Price Closes Out 2012 with a Bang," by Meg Handley, consumer confidence is on the upswing.
"Home prices closed out 2012 with solid gains, according to a prominent industry report released Tuesday, cementing the notion that a once-feeble housing recovery continues to gain momentum. Property values increased 6.8 percent from December 2011, according to the S&P/Case-Shiller Home Price Index, the most substantial year-over-year gain since July 2006. December's 20-city index comes on top of a more than 5 percent gain year over year in November."
There are many reasons for the resurgence in home sales but the article suggests a few possibilities: "Near-historic low mortgage rates coupled with a strengthening labor market continues to drive housing demand experts say, helping push home prices upward as the inventory of homes for sale dwindles and the flow of foreclosures slows."
Regardless of any expert's opinion or predictions every home buyer or home seller must make the decision that is best for them. By contacting a real estate professional you can begin determining if the time is right to buy or sell a home, or maybe both. The professionals at Louisville Home Hunter are prepared to answer all your questions regarding the current state of the Louisville housing market and provide genuine counsel for your individual needs.