Les’ Top 10 Year End Real Estate Market Predictions
- 2013 will end in a Buyers Market but only barely as the number of homes for sale in December dip slightly.
- Home sales will exceed 10,500 closed transactions at years end.
- The number of homes for sale does not dip below 4,200 at years end.
- Pending Home Sales end the year with a minimum of 1,000 Pendings in the que to start off 2014.
- West Des Moines will lead the metro in the highest percentage of Listings to Sales closing over 25% of the communities listing inventory each month.
- The metro will see a surge in sales of the upper end price ranged homes as we end the year as consumer confidence returns.
- The Average Days on Market will drop further going into the fall but rise again at years end when home sales slow down due to the holiday.
- The Median Sale Price will not dip below 2012 prices compared to the same month in 2013.
- The Percentage of Conventional Mortgages AND Cash Purchases will out pace FHA Financing.
- Both Conventional and FHA Mortgage Interest Rates will end the year a full 1% above January 1, 2013 rate levels.
