Real Estate Trends for 2013…Get In the Know

January 2, 2013 | By

Andrew Szalontai of Re/Max Treeland RealtyAs with new years resolutions, “trends” tend to change and bend with the free-will of humanity. However, we can make some educated assessments on the real estate trends for 2013, to better guide buyers and sellers alike on what to expect in the housing market.

Despite what you may hear, demand for housing will continue to rise…

The housing market has turned the corner and there is no reason to believe that buyer demand will not maintain momentum throughout 2013. Household formations shot up in 2012, and are projected to increase at an even faster rate over the next twelve months. It’s been said that, a lack of inventory will be more of the challenge to sales increases than the lack of demand.

A new generation is entering the market…

Contrary to what many have hypothesized over the last few years, young adults (18-35 year olds) are just as committed to homeownership as previous generations. Recent studies have shown:

• 43% already own a home

• 72% see homeownership as part of their personal American Dream

• 93% of those currently renting plan to buy a home

This, along with the increase in household formations mentioned above, makes us believe that 2013 will be the year that many of these young adults will jump into home ownership.

Yes, prices will continue to increase…

Which is, of course, good and bad news. Depending on if you’re a first time buyer, or if you’re finally looking at selling your paid-in-full home and entering into a retirement situation. Demand for housing will remain strong throughout 2013.

Knowledgeable agents are highly sought after…

With ever-changing market trends, buyers and sellers alike are seeking out agents who are in-the-know about issues such as: tax rebates, HST returning to GST and how that will affect them, renovation rebates, and other various home buyer/owner incentives. As such, knowledgeable agents are in high demand to help maintain this market of buyers and sellers, and assist them in mapping their way through the market mayhem.

2013 is gearing up to recover what 2012 lost in the real estate market. As a knowledgeable agent, I would love to assist you in making an informed decision and help make your 2013 a profitable one!

Filed in: Buying and Selling Real Estate | Tags: , ,

About the Author (Author Profile)

Andrew is a West Coast enthusiast through and through. He is a native of the area that you will often find adventuring on one of the many sea to sky activities that abound in the Fraser Valley. Along with being in love with the place he calls home, Andrew is a well known and respected Realtor focusing on helping others to find their own perfect home in Langley, Surrey, White Rock and beyond! Visit www.yourperfecthomebc.ca to find your perfect home.

Comments are closed.