Declining Number of Distressed Sales
The number of distressed properties is declining. Short sales and foreclosures accounted for nearly a third of all sales from 2008 to 2011. In 2012, that number dropped to 26%, and it’s estimated that that number will drop even further, to 17% for 2013. They’re expecting percentages to fall to single digits by 2015.
This is great news for people underwater. It means your home values will continue to improve. If you’ve been thinking about buying a home, you need to start looking, because prices are going up!
Read more at NAR’s Economic Outlook Blog.