Forecasting is always risky business, whether you’re trying to pin down the weather for the end of the week or looking for trends in the housing market.  According to the New York Mainstreet, home prices are expected to raise just under 7% over the next twelve months.  What does that mean for those looking to buy or sell in the real estate market?

For buyers, a potential increase in prices suggests that now is the time to buy.  For sellers, you may want to hold off before listing a house: higher prices can mean bigger profits.

“Short-term expectations for home value appreciation through the end of this year are consistent with a nationwide housing market recovery that is both strengthening and widening, but still coping with high levels of negative equity, high demand and low inventory,” Zillow Senior Economist Svenja Gudell said. 

While this may not prove true in The Woodlands/Houston area where the Seller’s market already reigns supreme, it’s wise to keep an eye on the country-wide market. 

“The prediction for lower appreciation in coming years means the market will have returned to its historic norms,” says Gudell. 

Good thing the Texas real estate industry was only minutely affected by the economic downturn and has not only already recovered but grown in stride.

Article citation: Brown, Jeff.  (August 21, 2013).  Dueling Home Price Forecasts.  MainStreet.  Retrieved August 21, 2013 from: http://www.mainstreet.com/article/real-estate/dueling-home-price-forecasts?page=2.

Picture citation: http://www.bloomberg.com/news/2013-08-08/million-dollar-home-sales-jump-in-u-s-as-wealthy-return.html?cmpid=yhoo