Categorized | Residential

Housing Market Trends to Follow in 2012

Please Share!

Whether you are looking to buy or sell a home, or you are looking to get in on the investment end of residential real estate, there are some trends that are starting to surface in the market this year. By following these trends, you’ll be able to know exactly what to expect from the residential market, allowing you to make all of the right decisions in whatever action you decide to take.

Bidding Wars

Bidding wars in the residential real estate market were almost non-existent just a few years ago. Most homes were lucky to get one offer over an extended time period during that time, leading some homeowners to accept even the worst lowball offer. Times have changed, however, and the latest trend shows current homeowners receiving multiple competing offers for the same property. As multiple offers come in, a bidding war begins, driving the price up sometimes well beyond the asking price. One of the reasons why bidding wars are coming back into the picture is that the overall inventory available across the country is starting to dwindle.

An increase in the number of foreclosures

Although inventory levels are down, and the market is starting to show signs of life with bidding wars, economists fully anticipate another wave of foreclosures to soon hit. Many banks had postponed processing foreclosures for the better part of a year following the robosigning lawsuit. However, now that the lawsuit has been settled, the banks have start processing them again at a faster rate than before seen.

Please Share!

About James Pattric

James writes for the Residential category (along with Josh Johnson) and also heads up the Resources category.

Leave a Reply

Twitter Chat