Our local housing market has been so incredibly lucky – despite any economic downturns, this area has continued to grow. And now, according to the recent 2014 Spring Real Estate Outlook Survey, not only has the region continued to perform well, but many are feeling optimistic as we move into the spring season.
The survey was conducted by MRIS, a Mid-Atlantic Multiple Listing Service, and questioned over 1,300 real estate professionals in Northern Virginia, Washington D.C., Baltimore and parts of West Virginia and Pennsylvania. While the findings represent opinions based on each respondent’s personal experiences, and not actual sales numbers, they still indicate a healthier housing market and offer insight to homebuyers on current trends.
Over 71% of survey-takers feel more optimistic going into 2014’s spring home buying season than they did last year. With impressive gains in the housing market, and a busy winter, it’s no wonder everyone’s feeling a little more relaxed about the warmer months. In fact, despite the cold and snowy winter, the housing market remained strong throughout the season. Earlier this year, the Commerce Department reported that the economy grew by 2.4% in the fourth quarter of 2013!
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A third of survey participants believe that this year will primarily be a buyer’s market, meaning it’ll be easier for homebuyers to find, decide on, and move into their new homes. The majority vote also believes that inventory will increase this year, providing a greater selection for homebuyers. This is an idea we certainly know to be true in Villages of Urbana! With several townhome models available, any family will feel right at home in our community.
At Villages of Urbana, homeowners don’t question whether or not they made the right choice – they know they did! The new homes in our community are ideal for all types of homebuyers. Recently, our new townhome models built by NVHomes and Ryan Homes, have been creating buzz for their convenience and classic design. And real estate professionals agree; 20% feel that attached homes will grow in popularity over this year.
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With a great general outlook for our region’s housing market, we couldn’t be more excited to welcome new homeowners to Villages of Urbana. Like the 1,300 real estate professionals surveyed, we’re looking forward to spring 2014 being just as, or even more successful than previous seasons!
Source: Frederick News-Post, RISMedia
