The new year could be the best year in real estate in years, but the housing recovery still remains fragile and challenges remain, says Dave Liniger, RE/MAX co-founder and chairman.
Liniger recently offered up some of his predictions for the new year:
- More buyers and sellers return to the housing market.
- Home sales increase 6-7 percent while home prices increase 3-4 percent.
- Inventory of for-sale homes will hit bottom.
- Higher-priced listings begin to sell more.
- The number of distressed properties continues to drop.
- The shadow inventory continues to fall.
- Short sales rise, reaching a peak.
- Mortgage rates rise slightly by year’s end from record lows.
- Lending remains constrained for home buyers.
- Home affordability remains at record highs.