Great Market Trajectory Forecasted

Dated: January 24 2013

Views: 884

There are many factors driving the housing market. NAR expects to see a 10% increase in home sales in 2013 and about 7% increase in 2014. Last year existing home sales ended near 4.6 milliion. New home sales are expected to exceed those growth figures signifcanlty with a 30% increase in new home sales in 2013. All of this is great news for the economy and excellent news for existing home owners as this buyer interest will drive up prices and subsequently increasing equity for exisiing home owners. Some of these homeowners may consider selling which is what the housing market needs since there is a nationwide shortage of inventory in most major markets. The East Bay / Northern California market inventory is down approximately 18% over the same time last year. The East Bay cities used for statitistics include : Walnut Creek, Pleasant Hill, San Ramon, Dublin, Danville, Concord and Lafayette.

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