As the country shakes off the effects of the worst economic recession in recent history, the residential real estate market is beginning to rebound, and Dave Liniger, Chairman and Co-Founder of RE/MAX, sees several positive factors that could take hold in 2012.
“Interest rates will remain at or near historic lows and home prices will stabilize and start to rise by the end of the year,” says Liniger “There’s no question, the housing recovery will be slow and steady, but for many cities the turn-around is already happening.”
With interest rates lower than most people have ever seen, and prices lower than they’ve been in years, the current marketplace has created a unique environment that may not be repeated for decades.
“Informed and savvy consumers and investors recognize there’s great opportunity in this market and they are leading the way to recovery,” Liniger adds.
Dave Liniger’s Top 10 Real Estate Predictions for 2012 are:
1. Continued low interest rates
2. Home prices stabilizing and starting to rise
3. Increasing numbers of home sales
4. Rising inventories, mostly due to increased foreclosures
5. Distressed properties will make up about half of all sales
6. An improved short sale process to help avoid foreclosure
7. Homeownership rates continue to fall
8. Foreign and domestic investors will buy 25 percent of homes
9. Increasing reliance on real estate agents
10. Increased use of Mobile and Social technologies