Prices of Property Sales Expected to Keep Rising

By November 22, 2013Traditions Property Blog

No one can predict the future, but that doesn’t stop people from making predictions of what they feel may happen in the upcoming years.  Property sales are one topic that is always open for conjecture. Will prices go up or down in the next 12 months, five years or ten years? Who is interested in purchasing property right now? Who is the next big property buying demographic?

Questions like these occupy the minds of real estate agents, sure, but they also are incredibly valid questions for the average home owner to ask themselves. Knowing who is interested in property sales can help you make a better prediction as to who may be interested in buying your property, and this may mean greater insight as to when to sell, what upgrades to make and what to ask.

So who is interested in buying properties? As it turns out, just about everyone! Most Americans predict that home prices are going to go up within the next year—and experts predict that this means the price of rental properties will go up a decent amount, as well.

Here’s What Matters Most

Approximately 59% of African-Americans; 55% of Caucasians and 50% of Hispanics are looking to buy homes in suburban cities like Jacksonville. This is not a big change from past recent decades.

Most homeowners are looking for the following factors:

  • A location they love (remember the first rule: location, location, location!)
  • A house that is bigger than their current residence
  • Top schools and resources for their children

If you are looking to purchase a home, you may want to keep these factors close in mind. These are the types of factors that help with re-sale value. Even if you are only looking to purchase a home now, having these top factors may help you years down the road.