Home Sales: What does the future hold for 2013?
If you're planning to buy or sell, 2013 is predicted to be your year.
"It's one of those few times in the real estate industry where we call it a win-win market," said Dave Dalzell, President, Abilene Realtors Association.
In November, Abilene hit an all time high in median and average home prices. The median price was over $138,000 and the average price was $151,500.
Dalzell said the market is expected to grow into the new year.
"We also had historical low interest rates, and they have been low for over a year now," said Dalzell. "The projections are that they'll stay low at least during the first half of 2013.."
Although things look good now, Dalzell suggests acting sooner than later.
"After the first half of the year you're going to see interest rates start to climb a little bit," said Dalzell. "Be careful how long you wait. The Abilene area has become a haven for home investors. People from other areas of the country are putting money sometimes cash into rental housing in Abilene, because rents are going up."
It's a great time for people to lower their monthly payments and get more for their money.
"The seller is in a good situation," said Dalzell. "The buyer is in an extraordinary situation. They both profit if they take advantage of home prices and home values and home interest rates right now."
Also inventory is shrinking in Abilene. Dalzell said only 900 homes are currently on the market.
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