The Real Estate Market in September 2012
Real Estate Market in September 2012
August 2012 indicated that there were some improvements in the nation’s real estate market. However, as the winter months approach there is typically a decline in the market as sales tend to drop off. The real estate market is a reflection of state of the nation’s economic situation. For this reason, it is important for anyone who is interested in the real estate market to keep a close eye on the economy. IF you are thinking of selling your home or purchasing a new one it is likely you will seek out the help of real estate agencies and property appraisal experts. When the economy fluctuates so will real estate prices. Appraisers such as Regency Property Appraisal can offer accurate appraisals which indicate the present housing market as well as the economic state of the nation. Where do all these fluctuations put the real estate market in September 2012?
Overall Outlook
Most of the country has seen at least some small improvements according to the National Association of Home Builders. The main growth, although small, has been in the smaller cities. They have had a rise in the purchasing of housing permits, employment and housing prices. These are all indicators that the market is on the rise. However, the improvements that are seen across the nation are weighted heavily by the smaller cities. Larger cities have been hit much harder by unemployment and foreclosures. It is much more difficult for larger metropolitan areas to recover from recessionary conditions. So presently, the overall outlook is a positive one which shows slight improvements, but largely in certain areas of the country.
What are the major real estate market indicators?
There are certain indicators that can tell us where the real estate market is right now. All we have to do is to look at the local economy. The job market alone is a very important indication of the housing market in the area. When unemployment is up, purchasing homes is down. However, when unemployment declines and individuals have steady jobs they are more likely to purchase a home. This can cause improvements to the housing market. Overall, areas which have higher unemployment rates have real estate markets which are still struggling to recover and areas which have solid employment are having better results in the housing market. So even though many areas of the nation are still in decline, the smaller metropolitan areas are doing better and it shows an overall slightly upward trend in the real estate market in September 2012.
Is the market slowing down?
Even though the market indicates that there has been a slight upward trend, this growth has slowed down. Some indications are that new home sales are up and pricing is even up when compared to this time last year. The trouble is that the industry is still very small due to a smaller inventory. Prices have increased, but are still below the typical peak prices. Single family homes have shown some consistency in growth even though prices are still lower.
A little bit of improvement this year is not an indication that it has returned to normal. In September, the market leveled off which indicates that recovery is still out of reach for now. When prices are low, everyone wants to buy, but not many want to sell. One positive that seems to be helping balance out the housing market is that foreclosures are down and investors have bought up properties while they are at lower prices. September we can expect things to move slowly and even more so with such a low inventory to work with. However, every indication is that the real estate market is slowly recovering.
Overall Outlook
Most of the country has seen at least some small improvements according to the National Association of Home Builders. The main growth, although small, has been in the smaller cities. They have had a rise in the purchasing of housing permits, employment and housing prices. These are all indicators that the market is on the rise. However, the improvements that are seen across the nation are weighted heavily by the smaller cities. Larger cities have been hit much harder by unemployment and foreclosures. It is much more difficult for larger metropolitan areas to recover from recessionary conditions. So presently, the overall outlook is a positive one which shows slight improvements, but largely in certain areas of the country.
What are the major real estate market indicators?
There are certain indicators that can tell us where the real estate market is right now. All we have to do is to look at the local economy. The job market alone is a very important indication of the housing market in the area. When unemployment is up, purchasing homes is down. However, when unemployment declines and individuals have steady jobs they are more likely to purchase a home. This can cause improvements to the housing market. Overall, areas which have higher unemployment rates have real estate markets which are still struggling to recover and areas which have solid employment are having better results in the housing market. So even though many areas of the nation are still in decline, the smaller metropolitan areas are doing better and it shows an overall slightly upward trend in the real estate market in September 2012.
Is the market slowing down?
Even though the market indicates that there has been a slight upward trend, this growth has slowed down. Some indications are that new home sales are up and pricing is even up when compared to this time last year. The trouble is that the industry is still very small due to a smaller inventory. Prices have increased, but are still below the typical peak prices. Single family homes have shown some consistency in growth even though prices are still lower.
A little bit of improvement this year is not an indication that it has returned to normal. In September, the market leveled off which indicates that recovery is still out of reach for now. When prices are low, everyone wants to buy, but not many want to sell. One positive that seems to be helping balance out the housing market is that foreclosures are down and investors have bought up properties while they are at lower prices. September we can expect things to move slowly and even more so with such a low inventory to work with. However, every indication is that the real estate market is slowly recovering.