It’s a new year and after 12 months of positive real estate news we look forward with what to expect in 2013. When I gaze into my crystal ball here is what I see in 2013:
I think the lead story of 2013 will be rising home values. That should create a more active market and many people will trade up in 2013.
Interest rates are so low right now but I expect interest rates to stay roughly where they are. They might go up a little bit but not enough to change the market.
What about the rental market? I think rents will stay stable and multifamily will cool down a bit. Watch for retail properties to be more popular as the economy strengthens.
With the economy stronger and rents rising watch for first time buyers to be a big part of 2013.