This is a re-blog from January, 2013. The RayMaxTeam was solidly predicting much higher real estate prices for 2013, following the same predicytion in 2012. No hedging; no “but maybes”. Keep this in mind when considering that RayMax also called for a tapering off in 2014 (when others started jumping on the higher price bandwagon) and has been recommending caution as we close out 2014 and enter 2015. Call for further discussion.
These media outlets have all come out strongly in saying that the strength in housing is going to drive economic growth going forward.
In summary, they are jumping on the bandwagon readers of this blog were driving nine to twelve months ago.
The story of the first half of 2013 in Northern Virginia will likely be as follows: Prices rising as sellers begin to fully realize the strength and depth of this buyer’s market and begin to list in pursuit of higher prices, not an immediate sale.