Assuming that interest rates remain low, I think that is fair to say that buyers will be active in the 2014 market. As a result, home prices will continue to rise. The biggest variable will be inventory levels. Based on current trends and our cold Winter chill, we will begin 2014 with inventory between 5% and 10% less than we began in 2013. With more new construction and existing home sellers proving confident in a stable upswing in pricing, there is a chance that we will see a promising selection of homes offered for sale in 2014. If so, we could see a very active spring market with slightly higher inventories, that should prove to be a continued strength in our local housing market. Should inventories not keep pace with demand, we could see a repeat of the buyer frenzy of Spring 2013.
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