January 24th, 2013 12:42 PM by Richard T. Cirelli
2012 / 2013 Real Estate and Mortgage Summary
We enter the New Year with a lot of optimism surrounding the real estate and mortgage markets. Taking a look back at 2012, the highlights were many and they were encouraging. The New Year should bring further optimism.
In real estate we experienced these highlights:
Mortgages also experienced significant improvements throughout the year. The highlights are:
Looking forward into the real estate market, we expect some improvement in inventory as fewer owners are underwater and able to put their homes on the market. And, if job confidence continues to improve we should also see more move-up buyers. Both of these scenarios will also contribute to higher prices.
In the mortgage market, expect: