Many housing market predictions for 2013 are positive, including a new study from Market Leader Survey revealed that real estate professionals are more confident when compared to expectations for 2012. According to data, the Market Leader survey posted a 28 percent increase regarding market confidence.
Data collected from 2,400 real estate professionals revealed that 84 percent of those surveyed reported believing that in 2013, values will rise, while the number of transactions is also expected to increase in comparison to levels seen in 2012. In 2012, around one-third of all real estate markets were predicted to post declines in home prices, though not a single market is believed so see a downward trend in either valuations or transaction this year.
Data from the survey showed an 11 percent improvement of those who say real estate transactions will see growth, while 21 percent believe new construction starts will become stronger in 2013. This is likely because of a smaller inventory of existing homes, but a large demand for home buying with mortgage rates lingering near record lows. Economists have said that 2012 will go down as the most affordable year for making the investment, but the government-sponsored enterprise, Freddie Mac, predicts that mortgage rates will remain under 4 percent in 2013, extending affordability to those looking to make the investment.
Additionally, local economies, alongside the national economy will likely only continue to improve.
"The differences in how real estate professionals are seeing the market in the past 12 months is significant," said Nikesh Parekh, CEO of ActiveRain. "Confidence in the real estate market has increased by 28 percent, and a rebound in both housing and construction this year is a great sign for the economy."
Predictions from the survey show that Austin, Texas is said to be the best real estate market, while others that made the top ten list include Fort. Myers - Naples, Florida; Kansas City, Missouri; Salt Lake City; Houston; Portland, Oregon; Dallas-Fort. Worth; Nashville; Detroit and San Antonio.
Those looking to purchase a home where the market is healthy may want to look into these locations, though improvements will be felt nationwide. When looking to make the investment, prospective buyers are urged to work with a real estate agent who will be up-to-date on real estate records and housing market factors, such as mortgage rates, home values and recent sales within the area being considered.