13 Reasons to Look Forward to 2013

When we look back on 2012 a long time from now, it may be viewed as the first year of the recovery, the year in which real estate reversed its course and moved in a more positive direction.

With that in mind, here are 13 reasons — courtesy of REALTOR® Magazine’s online news — why real estate pros can look forward to next year:

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.

That’s not to say there aren’t challenges. Lending remains tight, there’s a large foreclosure backlog, and regulatory challenges and the fiscal cliff loom ahead. But on balance, real estate appears to have a bright future in 2013.

Brian Summerfield

Brian Summerfield is Manager of Business Development and Outreach for NAR Commercial and Global Services. He can be reached at bsummerfield@realtors.org.

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  1. Jeremy

    I’ve been following the development of real estate market here in Canada and according to the analyses that I’ve recently read the outlook for 2013 is also more than optimistic as a result of stable economic conditions. In my native Vancouver there are three main factors that will play a key role during the whole year – low mortgage rates, improving employment numbers, and increasing migration to B.C. from across Canada and abroad. But nothing is certain and the threats such as the deterioration of global economy or inflation in the US could put a halt to the positive development of real estate market in both Canada and the US.

  2. Susan Murphy

    Very interesting and all around good news for 2013 in the housing market. My feeling also is that we will see a better market than we have in a while…..I believe the public feels the same way and they too are ready to buy.


  3. Phoenix had a good year and we are expecting 2013 to be even better. Number of short sales in the areas I work have decreased significantly – 1 1/2 or 2 years ago short sales accounted for anywhere from 30% to even 50% of the houses offered for sale in certain neighborhoods. Now it is rare to find a community with more than 10% or 20% of short sales. The biggest problem we are facing now seems to be the increased competition for the best deals on the market. Over the past few months I have met several buyers frustrated with this competition.

  4. Real Estate will always be changing from worst to its best in 2013. We will be looking for inventory to start homeownership to many first-time homebuyers. This is also a great opportunity to prosper for those who are prepared to multiply their assets.

  5. Kerri Curtin

    All around great news is headed our way. 2013 will be a good year. We just need to continue to spread the good word to those folks sitting on the fence. After 25 years in the business I can honestly say the rates can not be better. The prices are reasonable. There is no better time then NOW to make your investment. Don’t look back and say ….you should of….!

  6. Congratulations to Brian Summerfield(Author) as His Article is very optimistic and at the same time truthful as well!Contrary to popular belief(s) the Height of the Recent run on the Real Estate Market was the First quarter of 2005.Some People will argue that it peaked sometime in 2006.However,People(Agents)”in the know” will agree it did indeed “Top Out” in April 2005.This past Year marked a certain “recovery” in the Real Estate Market in the Greater Boston area after having “Bottomed Out” in 2011.Sadly,All of this could have started a couple of Years earlier,if the Government had minded Their own Business and let the Market “Correct” itself rather than artificially “propping it up” with Tax Credits(s) in 2008/2009.In closing Their is no sense “Crying over spilt Milk”.I Myself feel extremely Grateful to have survived from 2007-2012 and look forward to getting back to Business once again!The past Two Months(November and December)have been THE Busiest Winter Months that I have ever seen!!I was writing and getting accepted an Offer on Christmas Eve!
    (Please note that I have only been in this Business since 1996) .In closing let us all get on with it.Hopefully We can all learn alot from the past Five Years.I know that I have and look forward to applying this knowledge both My Personal and Professional Life.The Best of Luck to Everyone!!Buyers,Sellers,Attorneys,Loan Officers et al but Especially to all the Other Realtors/Agents out there!!Let the Games Begin!!

  7. The article did not mention anything about investment properties and buyers of investment real estate. Here, on Oahu, Oahu REALTORS are seeing lots of investors entering the market for the first time, doing 1031 Exchanges, and acquiring investment properties while interest rates are still so low. This activity is continuing to boost the Oahu real estate market. Another reason that we can look forward to positive housing developments in the new year!
    Wishing you all the best in 2013! ~ Aloha

  8. I certainly look forward to next year, generation real estate leads using blogging and social media.