New Types of Buyers to Enter the 2013 Housing Market

The 2012 housing market has been quite the ride. Home prices reached their bottom and began a slow climb back upwards this year. Interest rates remained historically low, affordability remained consistent, and home inventory in several markets shrank. With 2013 approaching in a matter of days, experts are optimistic that the New Year will bring continued strength to the housing market, ushering in more buyers into the marketplace due to a combination of pent up demand and favorable home buying conditions. And, based on information provided by John Burns Real Estate Consulting, the types of buyers anticipated in the housing market in 2013 will change greatly from the majority of sales by investors. The new types of buyers will include boomerang buyers, entry-level buyers, move-down buyers and move up buyers.

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