Pending Columbia SC home sales for January rose, as did all areas of the country. According to the National Association of Realtors’ Pending Home Sales Index, pending sales increased 4.5 percent to 105.9 from December figures. The numbers are also 9.5 percent above January 2012. With home prices on the rise, The Federal Savings Bank sees this as a good time where potential first-time homebuyers, especially veterans, should take advantage. The increase suggests sales of previously occupied homes will continue rising in the coming months.
Home prices are rising at such a positive rate that the NAR report revealed the highest index since April 2010 when many potential buyers were taking advantage of a home buyer tax credit. Before April, the last highest reading was in February 2007 when numbers reached 107.9. There is generally a one- to two-month lag between a signed contract and a completed sale.
The Columbia SC housing market is gaining momentum and first-time homebuyers are in a golden position to purchase a property right now. This positive trend in housing is not region specific, we’re seeing prices are rising everywhere but rates are not going to remain low across all states forever. Buyers should prepare themselves by pre-qualifying for a mortgage so as to be ready when they find their desired property.
Steady hiring and near record low mortgage rates have encouraged more Americans to buy homes.
For more on Columbia SC home sales and news, click over to our Columbia SC Real Estate News Category under our Columbia SC Real Estate Categories to your right.
The apparent end to the Columbia SC foreclosure crisis and the foreclosure crisis nationwide seems to be in sight. Today, less than half the number of homes are in or facing foreclosure as those facing the same fate in 2010 when the Columbia SC foreclosure crisis was at its peak.
While foreclosures are going down, Columbia SC housing prices are on the rise and slowly recovering. So what’s suddenly causing the drop in foreclosures? The secret… short sales. The video explains it all…
A good time to buy if everything is in place for you? Sound like sound advice?
Want more tips on mortgages and homebuying? Head over to our Columbia SC Mortgage Info Category under the Columbia SC Real Estate Categories to your right for more tips and advice.
Is Columbia SC housing turning a corner on the road to recovery? Home buyers, as well as those thinking of selling their home, are still wondering if Columbia SC housing really is recovering, or whether the market is just seeing a temporary bump that could still fall back in the short term.
CNBC recently interviewed Tanya Marchiol, CEO of Team Investments, and Ken Rosen, chairman of the Fisher Center of Real Estate and UC Berkeley, and here is what they had to say about the current housing market…
For more on the Columbia SC housing market, read our latest Columbia SC Real Estate News under the Columbia SC Real Estate Categories to your right.
We’d love to know how you feel about the Columbia SC housing market if you’re thinking of buying or selling a home now. Use our comment link to sound off. As always, your email address will never be shared or displayed when you post. Also, for you spammers, links to website URL’s will also be removed before your comments are displayed, if they are approved.
As we start a new year, national and regional trends for housing are very positive. Columbia SC housing, as well as housing throughout the entire 48 contiguous states were up in December.
Stick with us throughout 2013 for all the latest Columbia SC housing news. If you have a comment or question about any of our articles, we welcome you to leave your comments here.
Columbia SC home prices are expected to rise a modest one to two percent in 2013 from the fourth quarter of 2012. Gains in some areas of Columbia SC will be stronger than others, but overall, Columbia SC home prices have finally turned the corner, and we see no reason to be fearful of further large price declines.
This creates a new playing field for homeowners, who are finally able to sell, as well as would-be buyers who’ve been delaying a purchase in anticipation that prices would keep falling.
The Mortgage Bankers Association forecasts that more and more house hunters will start coming off the sidelines, with new-home loans for purchases expected to jump 55%, based in dollars, in 2013.
Are Columbia SC Home Prices Set to Skyrocket Again?
With these things being said, don’t expect Columbia SC home prices to be off to the races again in a year or two. We just don’t see that happening.
Homes in many markets are selling in a matter of weeks, often attracting multiple bids — but only the ones that are properly priced.
With competition heating up, casual house shopping isn’t going to cut it anymore. If you are serious about making a move, be prepared to make an offer. If a house has been on the market for three months or longer, you can afford to be more aggressive, but if it’s a new listing, a low-ball bid will get you ignored.
If tight lending standards return to historical norms, the real estate market could see an additional 500,000 to 700,000 home sales in 2013.
Since jobs are the engine of the housing market, a pickup in hiring later in the year, which economists are predicting, could accelerate a real estate rebound in the second half of 2013, meaning even higher Columbia SC home prices the longer you wait to purchase.