In 2012 we saw major growth in the SouthStar Communities and in the national housing market. According to Forbes, we are in for continued growth in 2013. Below is a list of housing trends for 2013. If you’re thinking about buying, SouthStar Communities might be the place you pick for your new home!
- Baby Boomers – Middle range baby boomers and boomers still in their careers are making plans for retirement. With newfound freedom and time many are considering new homes. Boomers are preparing for life after the workforce by searching for the homes of their dreams in destination communities.
- New Families – On average, Americans are having children at an older age. Because of this, older parents are financially stable and able to buy homes when they have children.
- Foreclosures – The rate of foreclosures has decreased 10.2% from 2011. This means the market is a better place for all buyers.
- High Rental Rates – On average, a rental home is $1,044 monthly. When considering renting versus owning, Americans are choosing home ownership.
- Low Interest Rates – All is well for buyers because interest rates are low. Rates range from 2.6% to 4.5% in most communities around the United States.