Home Buyers are Feeling a Sense of Urgency

Here is an interesting survey done by Redfin just at the end of 2012.  Home buyers were asked what percentage of them believed that home prices will rise in the next twelve months.

Just in the last year, the first quarter of 2012 to the fourth quarter of 2012,
that number is climbing. This means that only a year ago, people were saying, “There is a 34 percent
chance that prices are going to go up in the next 12 months.” That number has more than doubled to 71 percent
going into 2013.

Home buyers are feeling a sense of urgency moving in to 2013. We know that if a buyer  believes strongly that prices are going to go up, they are likely going to start looking harder.
That is why we believe that there is going to be a even bigger demand for housing going through 2013.
All the numbers we are seeing show that consumers are starting to realize that. Some of the factors we see are; slowly rising mortgage rates as the economy improves, Lower housing inventories and steadily rising home values.

Give the Rehoboth Beachteam a call if you have specific questions about real estate in a specific neighborhood or local market conditions.