The housing market was recovering this past year and going forward into 2014, real estate in The Woodlands will only continue to do so. In fact, there are many housing trends going forward that homebuyers and sellers alike can expect to see in the coming year. From housing prices to homes for sale in The Woodlands, here’s what’s coming up next for real estate in The Woodlands Texas.
Inventory Will Stabilize
For home buyers in The Woodlands in 2013, it was no secret that inventory was on the low side, especially as buyer demand increased and homeowners waited out the market before listing their homes. The year did begin with a low number of homes for sale, but as we move toward 2014, the inventory is slowly rising once more. According to Realtor.com, “inventory is approximately the same as a year ago. However, homes are selling faster than in 2012, with the median age of the inventory down by 11 percent.” Real estate experts and economists are predicting inventory to stabilize and return to normal levels in the coming year.
Homeowners Will Gain More Equity
The real estate market is seeing more and more current homeowners regaining positive equity in their homes and 2014 will keep this trend going. “Rising prices helped 2.5 million homeowners who previously underwater regained positive equity status during the second quarter of 2013,” reported Realtor.com. The good news for 2014 is that rising prices will continue and bring more homeowners into positive territory.
Mortgage Rates Will Rise
Mortgage rates have been rising this year and are likely to rise even more in 2014. A big factor in the increases to come has to do with the Fed and its consideration of slowing its bond-buying activity as the economy improves— this could lead to an increase in interest rates depending on their decisions and how quickly they come about.
Think you’re ready to buy a home in The Woodlands in the new year? Be sure to read my previous post on what you should do now to make the process easier in the months to come and contact us today to discuss your options and view the many homes in The Woodlands.
eXp Realty – Texas RockStar Group | 281-960-1900