Home values continue to rise, sign of housing recovery
Posted on Friday, August 9, 2013 at 12:06:17 PM
Many real estate and economic professionals are expecting home values to increase, with projected figures ending 6.7 percent higher than in 2012.
The Zillow Home Price Expectations Survey, which asked more than 100 experts about the state of the housing market, resulted in many saying values will continue to rise.
Residential financing has helped a large number of buyers in today's economy, and the study reported that mortgage rates below 6 percent shouldn't have a negative effect on the recovery.
"Short-term expectations for home value appreciation through the end of this year are consistent with a nationwide housing market recovery that is both strengthening and widening, but still coping with high levels of negative equity, high demand and low inventory," said Zillow senior economist Svenja Gudel. "Combined, these factors will continue putting upward pressure on home values for the next few months."
In addition, investors who were previously buying homes fast aren't as big of a factor in the current housing segment, leaving room for other buyers, according to The Fiscal Times.
Trulia Housing analyst Jed Kolko explained to the news source that rising home prices are limiting investor activity.
With home values on the way up, residential financing is a great way to buy real estate. Overall, the housing market recovery is looking strong for the remainder of 2013.