What to expect in 2013 in Housing
- Housing starts, prices and confidence are on an upward trend and the tide may be turning this year to favor homesellers.
- Homebuyers can expect a more competitive market in 2013
- Homesellers are shifting into the driver’s seat
- Experts don’t expect significant jumps in the mortgage rate this year
- The Consumer Financial Protection Bureau issued new qualified mortgage standards last week
- Housing prices expected to increase.
- There are currently more than a million homes in the foreclosure process
across the country, but the crisis on a nation level is over. However, foreclosures in the most-battered markets including Florida,
Illinois, New Jersey and New York are still high, and regulators have
been considering state-level foreclosure reform.
- Low interest rates caused a wave of refinancing in 2012, but experts forecast a much slower pace in 2013.
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