7 Signs the Real Estate Market is Back!

Despite the doom and gloom reported in the media, the signs are out there. Step away from the national headlines and talk to your local real estate professional. Real estate is back!

1. EXISTING HOME SALES ARE UP
   Over the last few years, existing home sales are up overall. Of course they fluctuate month-to-month and seasonally. New home construction is also on the rise.
2. PRICES & APPRECIATION HAVE STABILIZED
   Average home prices across the nation have stabilized along with expected appreciation. According to financial experts, not Realtors, the average home in the U.S. is expected to appreciate over 3% each year for the next 5 years.
3. YEAR-OVER-YEAR INVENTORY HAS RISEN
   Every commodity in the world relies on supply and demand. Home sellers and buyers are back in the market in record numbers. This has grown the inventory of available housing while appeasing the glut of home buyers.
4. MORTGAGE CREDIT MORE READILY AVAILABLE
   Lenders are once again opening up their pocket books and helping families secure financing. If you want to own a home, you can find a loan.
5. DISTRESSED PROPERTIES ARE DISAPPEARING
   The number of REO and short sale properties has dropped dramatically. This translates into more stable prices for home sellers. Home buyers can feel more secure in the value of their purchases. A stable market makes for a stable community.
6. PENDING HOMES SALES ARE LOOKING UP
   Existing home sales figures are up. Pending home sales are up as well indicating a continuation of this trend. The market is back and it has stabilized.
7. RENT PRICES ARE THROUGH THE ROOF
   Good news if you’re a landlord or investor. Bad news if you’re a renter. There’s never been a better time to own a piece of the American Dream.

Real estate is a local industry. Only a local real estate professional can give you a complete view of your market. Before you believe the hype of national media, have a look at your own neighborhood market.