The recovery is alive and well, and is painting some good
housing market predictions for spring 2013. This change is the result of a number of factors, which the Equifax Finance Blog explains in the new article, “
The 20 percent less inventory than the same time last year has made homes more valuable, and that rise in value has accounted for an overall $457.1 billion rise in home equity, or 7.4 percent increase from the fourth quarter of 2011. Hundreds of thousands of homeowners will rise above owing more than their home is worth if prices continue to rise, and many who have delayed selling their home will have a chance to re-enter the market.
These homeowners rejoining the market as home sellers will add inventory to give buyers more choices on where to spend their money, and that additional inventory may either cause prices to normalize or to rise as homes are quickly taken off of the market. This presents a bonus for both buying and
selling a home, in addition to a big boost for the housing market recovery.
For more personal finance tips and tricks, as well as real estate analysis and predictions, direct your browser to the Equifax Finance Blog.