Zillow Real Estate Stats & 2013 Forecasts

• From December 2011 to December 2012, housing values were up 5.9%.  In fact home prices have increased every month since October 2011 ("the bottom"??)  and are expected to continue to increase 2.5% in 2013.
• .How your particular market is recovering is largely driven by the unique characteristics of your area..."location, location"...and will play a big part in whether you should rent, buy or sell, now or later, in order to maximize value and return.
• A new wave of underwater homeowners will surface, and 2013 will likely see cycles of ups and downs in prices and inventories.  As home values go up, more underwater homeowners will be able to put their homes on the market thereby increasing supply and subduing prices (supply and demand)  
• Home affordability will likely continue to be high in 2013 due to low interest rates and still recovering home prices. 

Your comments are always appreciated.

Popular Housing Trends

The American Institute of Architects Home Design Trends Survey for first quarter 2012 revealed that outdoor living spaces have become a must-have for many home owners. More than two thirds of architects surveyed said that homeowners are looking to increase their outdoor living space. Covered or enclosed porches, outdoor rooms, and outdoor kitchens are becoming increasingly popular, as well as low-cost/low maintenance landscaping, exterior and security lighting.

The desire for open living spaces as opposed to defined and enclosed rooms is a trend we are all pretty much aware of. Comfortable open floor plans are flexible and lend themselves to many uses.

A National Association of Home Builders Survey identified the following amenities as most desireable to home buyers with regard to new construction homes: Low-E windows, walk-in closet in master bedroom as well as separate shower and tub in master bath, energy efficient appliances and lighting, linen closet, programmable thermostat, great room, 9-Foot ceilings on first floor, insulated front door and laundry room.

Modest floor plans are on the rise as well, as Americans want more efficient use of space and consider down-sizing. Builders estimate that in 2015, the average size new construction will be around 2,100 sq ft.

Another interesting trend is demand for multi-generation homes or the "Next Gen" house which features defined, yet flexible floor plan layouts that can accomodate returning children and aging parents living under one roof.

Your comments are always appreciated.