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Home Buyers Expected To Achieve Much Leverage This Year as Inventory Rises

     
March 17, 2014  |  Real Estate

The latest Zillow Real Estate Market Reports say that home values had their smallest monthly increase since May of 2012 with only an increase of 0.2 percent from December to January. Year-over-year, home values across the United States are up 6.3 percent in January, decreasing in peak gains of 7.1 percent in August 2013. The reason for this slowdown is mainly because of the upsurge in inventory of homes listed or for-sale on the market. Homes for sale on Zillow increased 11.1 percent annually in January, up for the fifth straight month in inventory.

With the escalation of the inventory of properties available on the market, home shoppers are expected to have more buying power, especially with home prices starting to level off. This shift to a more balanced market is a positive indication of the direction real estate is taking and of the steps gearing for normalcy in the country’s economy. This will definitely offset the impact of the mortgage rates and more expensive homes for buyers.

According to Zillow, the biggest inventory gains come from areas in the country that were mostly affected by the housing recession, including Las Vegas, which came up on top with up to 42.8 percent; followed by Phoenix with up to 30.5 percent, and Sacramento with up to 26 percent. Over all, inventory’s growth for homes listed for sale in the metro areas covered by Zillow in the U.S. is at staggering 82 percent! Home buyers have more properties to choose from and are most likely have a decline in bidding wars that also cause prices to escalate way too fast last year.

Do you have a home to sell first before taking advantage of the extensive inventory on the market now? You can have a complimentary valuation for your home and find out how much your home is worth in the market. Here’s how.

Moving to the State of Colorado or looking at purchasing for investment? We offer a great Relocation Package for the different areas/cities in Colorado, as well as provide listings that meet every possible search criteria. The inventory has never been better!

For homes available on the market from foreclosures, Short Sale, and HUD homes to standard listings, luxury homes, and third party properties, check out www.lisablake.com.

 

 

About the author

The Blake Team is a full-service Real Estate team based in Aurora, Colorado specializing in working with Buyers & Sellers, foreclosures/HUD, short sales, and luxury properties. A team with years of experience and an impressive success rate that made it the No.18 real estate brokerage in the nation, as well as the No.1 Keller Williams agent in Colorado led by CEO & Founder Lisa Blake. The Blake Team is your No. 1 choice for getting your dream home!