2012 was a good year for the real estate market, especially in the Milwaukee area. Through the first eleven months of 2012 home sales in the Milwaukee area have increased 25.7% compared to 2011’s first eleven months and there’s reason to believe that this good news will continue. Although some challenges still remain we can still look forward to more good news in 2013. Here are 13 reasons why, courtesy of Brian Summerfield of REALTOR® Magazine :
1. There’s greater optimism about increasing home values.
2. More new households are forming.
3. Home shoppers are feeling a greater sense of urgency.
4. Home ownership remains a goal of members of the Millennial generation.
5. Foreclosure starts are falling to pre-housing-bust levels.
6. Interest rates should remain low through next year’s selling season.
7. Loan demand for home purchases is climbing.
8. More Americans say it’s a good time to sell.
9. The number of improving housing markets is going up.
10. Job creation is expected to provide a much-needed boost to the commercial sector.
11. Housing starts are picking up as builder confidence increases.
12. As housing values rise and equity returns, fewer home owners are underwater.
13. Real estate is contributing to an overall economic recovery.