2012 was the first positive year that real estate has seen since the housing market crash. According to many reports, this was not a fluke; real estate is going to be on the upturn for many years to come - at the very least, 2017.
This upswing was due in part to home sale volume and prices both increasing this past year. It is predicted that prices will continue to rise in all major metro areas this coming year as demand for houses is on the rise, but inventory is remaining steady.
Another factor in this blooming market is the decrease in foreclosures. This will keep real estate from depreciating as well as provide a major boost to the U.S. economy in coming years.
What does this mean for you? If you are looking to sell your home, this is the market you want to be in. Chances are you will be able to negotiate with multiple buyers to sell your home for a profit in coming years. If you are a buyer, competition may be growing for that home you have your eye on. You may need to make quick decisions and desirable offers to get that home.
Lang Premier Properties is home to a leading Oakland County Short Sale Realtor. Specializing in all aspects of real estate including Shelby Township, MI short sales, foreclosures and working with home buyers and sellers with Macomb County Luxury homes. When you hire Lang Premier Properties, whether you are purchasing or selling Metro Detroit Real Estate, you can rest assured that you are in good hands.