Friday, November 08, 2013

Realtors report: Home buyers and sellers back in the market in 2013

About 13 percent of U.S. home sellers say they waited for property values to rebound first. (Louis DeLuca/Dallas Morning News)
With the turnaround in the U.S. housing market, more Americans are finally making a move.
The typical home seller this year has been in their house for nine years, the National Association of Realtors found in its annual survey of buyers and sellers. And sellers who were held onto their home that long had a median equity of $25,000 after the sale – a profit of 13 percent over the original purchase project.
The Realtors report that 13 percent of sellers they surveyed nationwide this summer had wanted to put their house on the market earlier but waited for property values to increase.
First time buyers who acquired a house this summer say they plan to stay in the property for 10 years on average, and repeat buyers anticipate a 15-year stay in the home.
Despite the housing market plunge during the recession, 80 percent of homebuyers the Realtors polls said their home is a good investment. And 44 percent said it was a better investment than securities.
There have been some changes in the market since the recession.
By Steve Brown