After nearly 4 years of weak demand and excess supply, 2012 was the year of the buyer. The convergence of pent up demand, exceptional values, and historically low interest rates spurred a housing recovery that appears to be gaining even more steam as we move into 2013.
The Wall Street Journal recently reported that US home prices nationwide increased on a year over year basis by 6.3% in October, the biggest increase since June 2006. They went on to report that nearly three-quarters of investors polled by JP Morgan expect home prices to rise 5% in 2013.
JP Morgan expects US home prices to rise between 3.4% and 9.7%.
The Lowcountry is primed for an exceptional 2013. Values are remarkable, rates are still at historic levels, and buyer activity continues to grow. If you’re on the sidelines, now is the time to get involved.
Give me a call for a summary of the best buys in the Lowcountry. (843) 384-8105