It’s been nearly five years since building professionals could look to the year ahead and create an extensive list of reasons to be excited. Trepidation of the unknown had almost become an annual tradition, which is why a list of reasons to be optimistic for 2013 (according Brian Summerfield of the National Association of REALTORS) is a sight for sore eyes.
- There’s greater optimism about increasing home values.
- More new households are forming.
- Home shoppers are feeling a greater sense of urgency.
- Home ownership remains a goal of members of the Millennial generation.
- Foreclosure starts are falling to pre-housing-bust levels.
- Interest rates should remain low through next year’s selling season.
- Loan demand for home purchases is climbing.
- More Americans say it’s a good time to sell.
- The number of improving housing markets is going up.
- Job creation is expected to provide a much-needed boost to the commercial sector.
- Housing starts are picking up as builder confidence increases.
- As housing values rise and equity returns, fewer home owners are underwater.
- Real estate is contributing to an overall economic recovery.
Of course, uncertainty is the only certainty when it comes to forecasting a market as volatile as housing. But builders, architects, designers, real estate agents and even prospective buyers and sellers can look to mounting evidence that suggests 2013 will build on 2012′s momentum. Cheers to that!