Homeowners across the nation rejoiced a bit last year as the cost of many property sales shot up at a rather quick pace. Many homeowners took this sharp burst as an indication that the housing market was officially on the mend, and that their home may recoup any lost worth it experienced over the past several years. This isn’t likely to be the case however, and it is wise for those looking to buy and sell property to be aware of how these trends often work, and understand what they should expect.
If you are looking at property sales in Jacksonville, then the recent rise in property prices might have given you a bit of anxiety. The sudden rise in property prices gave many who were hoping to wait a bit longer to take advantage of low property sales a bit of anxiety, as many assumed that the price increase would continue into 2013 at the same rate.
Across the United States home prices rose more than seven percent from the end of 2011 to the end of 2012. Experts are warning people not to become too excited by this number though. This is being referred to as a running start, as if housing prices have been held by a metaphorical gate and have just been released. The market is on the mend, and housing prices are indeed rising throughout the country and here in Jacksonville, but you shouldn’t expect another seven percent increase by December of 2013.
The sharp increase in property sales led many people to reexamine Florida foreclosures and rental property management opportunities, as for many the sudden rise was not entirely expected. Experts agree that now is a good time to enter the market for buyers and sellers alike. It is still possible to obtain well priced property sales right now, and sellers who have been holding off or unable to sell their home may finally be able to find a buyer for their house, apartment or condo.
So, as you are browsing property sales in Jacksonville keep in mind that the rate of price increase is likely to slow down and rise at a more steady and gradual pace in the very near future. If you have any further questions please contact us!