Equifax Spring 2013 Real Estate Trends

Know how to take advantage of Spring Real EstateWhat does Spring mean to you? For some it means, sneezing! For others, it means youth baseball. For lucky couples, it means wedding bells. For college students, it means hitting the road for a pre-finals break. But for real estate agents, it means it’s time to work!

The real estate market started heating up in February this year and agents are reporting strong activity in the market in most areas nationwide. In fact, Freddie Mac is predicting that this Spring will be the best real estate season since 2007. So for buyers and sellers, the Equifax Finance Blog shared some real estate trends to keep in mind during their home selling and/or buying process in the recent article, “

Real Estate Trends to Watch this Spring.”

Home prices are on the rise. Over the past years, prices have increased 8 percent; largely due to increased involvement by investors. But don’t expect prices to continue to rise at this rate; prices will likely rise and fall throughout this year and into next.

Housing inventory is limited. Homes for sale, according to Realtor.com, are down 15 percent since last year. A tighter supply and increasing demand also impacts how much a buyer will have to pay for a home. It also means buyers will have to wait until the market gets stronger to be able to sell their home, especially those who are underwater on their homes.

Interest rates remain low. Historically low interest rates are keeping home prices affordable, for those who can get qualified for a mortgage.

Get more real estate trends and tips at the Equifax Finance Blog, where you can also find information on retirement, investing,

credit checks, identity theft protection and more.

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