Recent data from the S&P/Case-Shiller Home Price Indices reveals that national real estate values went up an average of 13.6 percent over the past year. Price gains have occurred for 17 months in a row, according to S&P/Case-Shiller officials.
Buyers and sellers both benefit from a healthier market. Home purchasers can move ahead without needing to be concerned that prices haven’t reached bottom yet.
More owners also want to sell now, since stronger prices boost their profits. Previously many homeowners who wished to sell stayed out of the market, since they wouldn’t break even on a transaction.
Having more sellers gives buyers additional properties to select from. Real estate commentators say this additional inventory coming on the market will keep prices from spiking in the near future.
Today’s market is getting back into balance, so that both buyers and sellers can make advantageous deals. “Most forecasts for home prices point to single-digit growth in 2014,” states S&P/Case-Shiller.
Economists expect overall growth in the U.S. to expand this year, and interest rates to move up gradually. Purchasing soon gives you the opportunity to start living in a home that suits your current needs, while securing payments which fit your budget.