Fannie Mae’s economists expect home sales to increase approximately 9 percent this year from last year’s levels. Their team of experts believe home prices hit bottom earlier this year. They state, record low mortgage rates and the Federal Reserve’s latest round of mortgage backed security purchases combined with current pricing will likely bring more buyers into the housing market.
Nationwide, they’re expecting sales will round out at 4.98 million this year and increase to 5.19 million units next year (for the first time in years). Fannie Mae’s team is estimating a rise of 2.9% in prices.
Locally, we’ve experienced year over year sales growth in Breckenridge as well as the Summit and Park County markets. Breckenridge has grown 10% in residential real estate sales over last year through October and Summit and Park County has experienced 18% growth.
Now is the time to buy real estate! Are you interested in learning more about real estate opportunities in Breckenridge, Summit and Park Counties? Contact us today and let us help make your dream home a reality.
Please contact your Broker at Breckenridge Associates Real Estate to learn more about the incredible opportunities available today in Breckenridge and Summit County, Colorado. 800.774.7970 or 970.453.2200. Click here for the latest news about Breckenridge Real Estate.
Source: RISMedia.com, Oct. 23, 2012; Local MLS Data, November 6, 2012