Is 2011 the Year to Move?
With so many different sources offering their predictions on the 2011 real estate market, it seems like everyone is asking “Is 2011 the Year to Move?”. The answer is absolutely. Here’s why.
On December 22nd, 2010 S&P/Case-Shiller released their U.S. National Home Price Index predictions through the year 2015. Although a small dip is predicted in home values in the year 2011, overall economists predict that values will trend upward through 2015. This is great news for our nation and economic recovery. But what does this mean if you are considering a move in 2011?
If you are selling, list early in 2011. Nationally, in 2010 we saw a -1.1.3% dip in home values. In 2011, economists are predicting a smaller, -0.17% dip. If you are considering selling, it looks as though the begining of 2011 will be your best bet for getting the most for your home before this small slide effects home values. However, as the market continues to recover, home values will continue to rise steadily in small increments.
If you are looking to buy, 2011 is the best year to buy low to gain equity in your home. Home values are expected to rise over the next five years, creating a slight increase in prices of homes for sale. Buying now could get you the most bang for your buck.
Overall, if we have learned anything from this economic downturn it is to have a long-term perspective. When looking at the National Home Price index trends over the past three decades home values are still growing strong despite what the last few years have shown us. Like most areas of our economy, the real estate market is recovering from a bubble of the early 2000’s. When we are focused too closley at the past 10 years of home values, we fail to realize that buying a home is still a great long-term investment.
Looking to move in 2011? Move forward with confidence.
Category: Industry News
