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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