When will the housing market return to normalcy?
The recovery of the real estate market began in 2012 and accelerated through most of 2013. Are we “there” yet? According to the popular real estate website, Zillow, the housing market is improving, but not yet back to normal.
While some observers believe the housing market recovery is entering its final phase, others disagree, Zillow included. Unconvinced experts note the rapid rise in home values (mostly driven by low inventory levels) as eerily similar to the housing bubble of the early 2000s–and just as unsustainable. The Zwahlen Team believes prices will moderate as more homes come on the market for sale.
Zillow points out that many markets that posted the strongest price gains in 2013 are already slowing down. This may be a positive sign because it may avoid the risk of transcending into “bubble territory.” The California market, which enjoyed consistently strong home value increases in 2013, may ease a bit because of buyer “affordability issues.”
Home buyers and sellers may encounter unwelcome volatility in housing prices in 2014 because of the above mentioned conditions. The Zwahlen Team, your Danville real estate experts, can help you sort through these complex issues. Barry Zwahlen, named 2013 Realtor of the Year by the Contra Costa Association of Realtors, has been putting buyers and sellers together successfully since 2002 (and his wife, Brenda, is an even better Realtor).
If you’re considering buying or selling a home in the Danville area, contact the Zwahlen Team, to take advantage of Barry & Brenda Zwahlen’s experience and expertise. Clients in the East Bay have come to depend on Barry & Brenda to complete stress-free home purchases and sales.