Country Minute - Spring 2013

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Spring 2013 News and notes on living the good life...

CountryMinute

country living market trends– On the rebound‌that’s what statistics are showing for the real estate market these days. Sure, it depends on the location as the national economy continues to show mixed signs of improvement; but all-in-all, moderate progress has been seen toward strengthening home and land sales. According to the National Association of Realtors, total existing home sales in 2012 were the highest in five years at more than 9 percent over 2011. Buyer traffic has also risen, which has helped contribute to the highest annual price increase since 2005.

United States housing starts are also showing signs of a gradual rebound. Construction starts in 2012 were up an average of 28 percent over 2011. Though this shows the most improvement since the economic downturn, many analysts indicate a full recovery in the housing industry will not be seen until numbers more closely resemble those from 2007. With these facts in mind, here are a few trends you could expect in 2013 and beyond.

Home prices continue to rise As consumers regain economic confidence, it is predicted that buyer demand for homes in good condition will continue to drive prices up. Among other things, the slow regrowth in construction means more demand for existing homes. Lower home inventories Buyers eager to take advantage of low interest rates will help to keep fewer homes on the market. Continued on page 2...

This Country Minute is brought to you by your local country living lender:

Summer Fun for All Spring is here, and before we know it, the school year will end. You can keep your kids active this summer by researching activities, events, or classes they can participate in. Taking advantage of local recreation options is a convenient and affordable way to keep kids active and away from endless days of video games! Many local municipalities offer trails for hiking or biking, ponds Continued on page 2...

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