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 Eastern Panhandle WV Real Estate Blog 
Tuesday, 08 January 2013
The close of 2012 certainly gave West Virginia’s Eastern Panhandle housing market a reason to be optimistic, as it ended on a much better note than 2011. There is no reason to think that 2013 won’t be even better, especially in areas like Jefferson and Berkeley County. While the American economy may still be experiencing hardships in some areas, there are several reasons to believe the housing market in West Virginia will be booming this year. Foreclosures are down, home values are on the rise, and mortgage rates are at an all time low, making 2013 the best looking year for real estate since 2007.

One of the reasons the housing industry will see some growth this year is the long awaited return of the "move-up buyers". Negative equity has kept many homeowners from moving for the last few years. However, as the economy recovers and the value of homes begin to rise, many homeowners will look to sell in order to move up. The rising value of homes should cause plenty of positive activity for buyers and sellers in the coming year.

Another reason the 2013 market shows promise is the number of young adults in America who are looking to buy a home instead of rent. A majority of young adults recognize the value of homeownership and are looking to build equity. In fact, 43% of Americans between the ages of 18-35 already own a home and 73% consider owning a home one of their main goals in life. This is good news for the homeowners who are looking to upgrade and sell a great starter home to a first time buyer. Since mortgage rates are so low right now, young adults are also in a good position to get financing and find some major savings.

Even in areas that have experienced a high number of foreclosures in the past, the demand for housing should boost numbers and provide an ideal environment for those who are looking to buy or sell a house. Jefferson County real estate agents and residents can look forward to an exciting year, as the housing market is currently in a position to generate higher numbers than it has in a very long time.

If you are looking to sell your current home or buy your dream home in Jefferson County or Berkeley County, please don’t hesitate to contact us! We would be happy to help you.

Posted by: AT 11:28 am   |  Permalink   |  Email
  

 

KABLE Team Realty

Tracy Kable, Broker
873 E Washington St, Suite 200
Charles Town, WV 25414-1520
Phone: (304) 725-1918
Email: TheKableTeam@TheKableTeam.com

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