The Big Question

 

What does it mean when we hear that home sales are up?  That is the big question from homeowners who purchased their home before the recession and are now thinking of selling.  Many are confused because the media reports upward trends one week and the seemingly same numbers fall the next.

 

 

Homeowners who have been waiting to sell their property are wondering if now is the right time to move forward.   They want to know is if their home value has increased to the point where they can regain at least some of the equity that they lost during the recession.

 

The truth is that it's been a rollercoaster ride for the past year or so, but most professionals in the real estate industry agree that the overall trend is a positive one.  Investors are scrambling to buy right now, but price and location are still a major factor.  

 

It's important to recognize that the numbers reported through the media can be fooling for many reasons.  Figures are often based on national information and sometimes conflict with your own local activity.  Some numbers reference a small faction like new home sales which only represent 6% of the housing market.

 

What to make of all this?  The housing market will be directly affected by the economy.  My opinion is that we are stabilizing, but we do have a way to go before we see any huge increases in value. 

 

It appears that home values have increased on the Central Coast by 5-10 percent over the past few months.  It is yet to be seen, however, if the increase in home values will be sustained and continue to gradually increase throughout 2013.  

 

NancyPuder is the broker and owner of Signature Properties, a prestigious real estate sales and management firm in Arroyo Grande, CA.  You may contact her at Nancy@NancyPuder.com or (805)710-2415 Your calls are always welcome!