2013 Real Estate Trends, Point Toward A Booming 2014

When thinking of real estate, many prospective buyers are so focused on the accessibility to credit, that they forget to look at the current trends in their market. There is no doubt about it, the past few years have brought about many changes to the real estate industry—for renters, buyers, and sellers alike—but 2013 trends point in the direction of change.

During the peak of the recession many buyers experienced a vast decrease in the equity of their home, which has significantly decreased the dollar for dollar sales amount, and volume of sales in many markets across the nation. This combined with the increase in foreclosures and short sales, the real estate market took a big hit.

However, there is finally a light at the end of the tunnel! As 2013 comes to an end, nationwide real estate calculations and trends gathered in a study by the Census Bureau show that real estate prices are steadily on the rise, and that the numbers of vacancies is drastically decreasing—which means Americans are once again able to afford to buy.

Many homeowners who have been interested in selling their home, but have been holding off on putting it on the market in hopes of being able to list and sell for higher price, chose 2013 as the year to finally sell. This is evidence in the drastic increase of new inventory being listed on popular sites such as Realtor.com that show both a seasonal increase in sales, and that 100 of their 146 markets have significantly more homes listed (and selling) today than they did even as of February 2013.

Economists believe this increase in both sellers and buyers is a direct reflection of employer wages being on the rise, and individuals who previously choose to rent out homes they did not feel they could get a lucrative selling price for—now feeling confident to sell.

The 2013 real estate market trends show that more Americans are able to achieve their dream of homeownership, and that sellers are able to sell at prices they are comfortable with. The improving trends also provide current homeowners who have no plans to sell, a significant boost in the equity of their home.

While the real estate industry in many markets around the nation has been struggling since the recession hit, 2013 trends show that real estate nationwide is regaining momentum—leaving many speculating that 2014 will be the start to a once again booming marketplace.