Top Real Estate Trends for Spring 2012

The fast-paced world of real estate shifts with the economy, and while not all predictions come true, professionals in the industry are able to predict trends for the busy season of 2012. It can be tough to sell PA property as the Chester County real estate market has seen its fair share of challenges in recent years, but sellers can look forward to some upticks this year.

This year, it’s important for anyone buying or selling a home in Chester County, PA to be well informed of upcoming real estate trends before jumping into any selling or purchasing commitments.

1. Economic Recovery

When it comes to selling a home in Chester County, PA, many real estate professionals are noticing that there is large demand for homes—and especially for new homes. Interest rates are lower than ever and many markets that did poorly in recent years may do quite well in spring 2012 as a result. Provided that business leaders and consumers will become more confident in the economy, this high level of demand can mean big things for the housing world.

That is, unfortunately, the problem. Buying a house is a big investment, and with the way Chester County real estate has been recently, many won’t be overly eager to spend their hard-earned money on a market that is still somewhat fragile. Buyers and business professionals must take charge and be confident in their decisions in order for the market to improve.

2. Foreclosures

Realtors do not predict the complete end of the foreclosure crisis in the upcoming season, but there still exists the possibility for a solution that would solve the problem permanently. For example, interest has been shown in taking areas with many foreclosed homes and making them into rentable apartment-like communities. This concept may continue and develop further in the future as renting becomes increasingly popular.

3. Renting

Rents will continue to rise in spring of 2012 as they have in the last year. As foreclosures become increasingly popular people, are forced to turn to renting as the only option for living, making it more challenging to sell PA property. However, there are also many people out there who have recovered from the recession, and are tired of having to rent. These individuals are a great target market for selling a home in Chester County.

Although renting is on the rise and home owning is still recovering, the real estate market is not lost. To sell PA property, it is a common consensus among many real estate professionals that the market will improve if business leaders and buyers take risks and put confidence back into their homes. Ultimately, it will be the availability of low interest rates and loans that will determine whether or not this confidence in the market is realized.

Be sure to follow your local Chester County real estate trends as the season goes on for up-to-date data and market results. If you’d like to speak with a professional realtor to learn more, call Liz Saunders at 1-888-914-4833 or send her an email.