The national housing market is showing positive improvement.  The main trend to call attention to is the seller's market.  Home prices continue to rise steadily above year-ago levels, and housing demand has strongly picked up, resulting in low levels of inventory in many regions across the country.

"Tight inventory is a major factor in the market," states NAR Chief Economist Lawrence Yun.  "Buyer traffic is continuing to pick up, while seller traffic is holding steady.  In fact, buyer traffic is 40% above a year ago."  Inventory is low for a number of reasons:

Housing demand has picked up, banks have slowed the pace of foreclosures, and many homeowners who wish to sell their homes simply cannot because they do not have enough equity to make a down payment on their next home.  However, as home prices continue to rise and more people can afford to sell their homes, inventory levels will increase.

NAR President Gary Thomas claims, "The typical home is selling nearly four weeks faster than it did a year ago."  Now marks one of the most favorable times in the market history to buy or sell a home.  There is an urgency to buy now while mortgage rates are at a record lows and before home prices increase more significantly.

This Month in Real Estate (US) March 2013

    1420 Manjack Cay, Round Rock, Texas 78664

Bedrooms:    3

Baths:     2

SqFt.:     2,366

Year Built:     2000

See More