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SOURCE: Waterfront Properties & Club Communities
Economists who spoke at this year’s gathering said the housing market will continue its recovery through 2013, and beyond.
JUPITER, Fla. (PRWEB) December 04, 2012
As politicians ponder the looming “fiscal cliff,” homeowners have a reason to be happy. Forecasts from the recent 2012 Realtors Conference and Expo call for continued improvements in the housing market.
One caveat – that America does not get hit with higher taxes in 2013, as a result of Congress failing to reach an agreement on increasing revenues and cutting spending.
The positive predictions passed on at the 2012 Realtors Conference and Expo were welcomed by agents at Waterfront Properties and Club Communities. Lawrence Yun, the National Association of Realtors’ chief economist, said sales of existing homes, as well as new homes, achieved remarkable gains in 2012; housing starts spiked for the first time in four years; and all the major market indicators are trending up.
Rob Thomson, Waterfront Properties’ managing partner, has seen the improvements impact luxury real estate in South Florida throughout the years. Thomson sat in on several closings with his agents and clients in November, one of the most active and productive months for the company.
Jupiter homes for sale have mirrored the national news delivered at the 2012 Realtors Conference and Expo and are on the rise. Many of the homes are close to the beach, and there is an abundance of shopping and dining nearby, making the town one of the most desirable in the area. A good example is Jupiter River Estates.
Yun also said home prices will be meaningfully higher in the future and should escalate by 6 percent by the end of the year. If that happens, the average national price for an existing home will be $176,100. If the national average increase 5.1 percent in 2013, which Yun projects, that will bring the number to $185,200.
While housing prices are on the rise, it’s a great time to buy, and 2013 might be the best opportunity for renters to become owners, Yun said. Mark Vitner, a senior economist at Wells Fargo who also spoke at the 2012 Realtors Conference and Expo, said the housing market will strengthen next year because of demand for new construction.
The team of sales specialists at Waterfront Properties has helped hundreds of renters become owners this year and are aware of the best buys on the market. The licensed brokerage has about 60 agents in three offices along the Gold and Treasure coasts. The Jupiter office is company headquarters and is off Indiantown Road. The North Palm Beach office is on U.S. Highway 1, and the Stuart office is on Southeast Ocean Boulevard.
For information, call 561-743-7272.
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322 Shipyard Boulevard