1. Demand is High – Annual sales have increased over 9% in 2012 from 2011.
2. Supply is Low - The monthly supply of available homes is at a 7 year low.
3. New Construction is Coming Back – As the market is recovering, builders are building more homes.
4. Interest Rates are Projected to Inch Up - The Mortgage Bankers’ Association has projected mortgage interest rates will inch up approximately one full point in 2013.
5. Timelines Will Be Shorter - There are fewer transactions this time of year. Therefore, timetables on each component of the home buying process will be friendlier for those involved in transactions over the next 90 days.
Want more details? Check out KMC’s recent post.
