Optimistic About 2014
Happy New Year! It’s hard to believe that 2014 is already here and upon us. And from the predictions so far it looks like this is going to be a healthy year for the housing market.
A recent article on CNNMoney points out how the housing market is shifting and will provide more opportunities for both buyers and sellers, although it is somewhat of a balancing act.
“For a sustainable recovery you want to see more balance between buyers and sellers,” CoreLogic Case-Shiller’s chief economist David Stiff explains. Stiff is forecasting a 6.8% rise in the median home value for 2014.
While housing inventory is up, it’s still a seller’s market because the supply is lower than normal – about 15% lower than the historical average. There are going to be more homes available than there were last year; however we are still trying to rebound from the lows of several years ago.
According to chief economist Jed Kolko of Trulia,...