Well, we’ve made it to 2013. So what can we expect for the 12 months to come?
According to the California Association of Realtors, the housing market’s recovery will grow more robust, with home sales increasing for the third consecutive year and the median price increasing for the second straight year.
“The market has improved moderately over the past year,” CAR president LeFrancis Arnold said in a statement, “and we expect that to continue into 2013.” Arnold added that sales would be higher if inventory were less constrained – something that definitely affects the San Francisco market. As I’ve noted several times over the last year, our inventory is at rock-bottom.
CAR projects that the average for 30-year fixed mortgage interest rates will go up to 4 percent after six consecutive years of declines, but will still remain at historic lows. That makes sense given that quantitative easing is still in effect and is expected to keep rates low for the next few years.
What are your real estate goals for 2013? Get in touch and let’s discuss how we can achieve them working together.
Dreaming of San Francisco? Cece Blase offers local advice to San Francisco buyers, sellers and owners-- and feeds the dreams of those who wish they could live in Tony Bennett's 'City by the Bay.' Call 415-577-0809 or email cblase@paragon-re.com. www.ceceblase.com
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