2014 Real Estate Expectations

In September 2013, homes listed on Zillow were selling 30 days faster than September 2012.  These homes averaged 86 days on the website, and in September 2012, they averaged 116 days.  Since the beginning of 2010, homes spent an average of 119 days.  This decrease is pressuring buyers to act more quickly.  The Conference Board, a nonprofit association of businesses, reported that the percentage of buyers who intend to purchase in the next 6 months was the highest since 2000.

2014 Real Estate

Home prices are expected to slowly and steadily rise compared to previous years.  In 2014, home prices are expected to raise 3-5%.  Homes are still affordable even with this price increase as they are still below the 2006 peak by about 31.5%.

This increase in homes selling quickly and in home prices is pushing buyers and real estate investors to act quickly in the market.

What expectations do you have for 2014?