Housing recovery to continue in 2013

January 10th, 2013

New data suggests housing market recovery will continue throughout 2013.

New research reveals that the housing gains made in 2012 are likely to continue into 2013.

Data firm Clear Capital report shows that national home prices are expected to increase 2.1 percent in 2013 – positive news for both buyers and current homeowners. When broken down by region, it appears the West will likely see the strongest gains in home prices at an average 2.8 percent. However, other areas will also see improvements in prices, including the Midwest and South with projected gains of 2.3 and 2 percent, respectively.

“2013 should be interesting for the housing market, where national gains should continue to see upward growth but likely at a more modest rate,” said Alex Villacorta, director of Research and Analytics at Clear Capital. “At the end of the day, there are still plenty of great deals to be had across the country, investors looking for decent return, and pent up homebuyer demand on the verge of materializing.”

The authors noted that many people may trend away from traditional “hot spots” and toward more moderately priced local economies. The results show that mortgage service companies located in smaller suburbs outside of metropolitan areas are experiencing an uptick in interested buyers, while those in traditional markets are seeing consistent, rather than accelerated, interest.