Many factors are involved in deciding whether it is the right time to sell your house: the condition of the property, the state of your neighborhood and, of course, whether it's a good time for you and your family to move to a new location. However, perhaps even more important than any of these factors in determining whether to list your home is the overall health of the housing market.
The list of housing markets showing measurable and sustained improvement held virtually unchanged in May at 100, down from 101 in April, according to the National Association of Home Builders/First American Improving Markets Index (IMI). The number of states represented on the list also held firm from the previous month, at 35 (including the District of Columbia).
This month’s NAHB/First American Improving Markets Index reveals that the number of improving housing markets continued to expand for a fourth consecutive month, rising from 30 in November to 41.
The index identifies metropolitan areas that have shown at least six months of improvement in employment and housing prices as well as an increase in housing permits.
The December list featured 20 new additions, including several major markets such as Washington, D.C., San Jose, Calif., and Toledo, Ohio. Meanwhile, nine smaller markets dropped off the list, primarily due to softer house prices.
See a complete list of the metros featured in the December NAHB / First American Improving Markets Index.
In 2008, the housing market came crashing down. Not just down, but all the way to the ground - and maybe even below that. However, economists have been resilient over the years and continue to predict a rise in sales going forward. Truthfully, the rebound has been slow. Too slow. But, in 2012, it is expected to climb out of the depths of debt and begin to resemble the market that we all were used to back in 2007.
Real estate closing is an important part of this process. Buyers need to finish deals, rather than continue to put off purchasing a home to the future. Although, that may not be financially responsible with mortgages becoming so hard to pay for. However, if Fannie Mae's 2012 predictions are correct, more people will find the funding to put down-payments on homes across the country.
In the company's most recent prediction, there is expected to be a complete turnaround in 2012. Fannie Mae is calling for housing sales to grow by 10.2 percent by the end of 2012. Buyers who are looking to purchase their first home should not hesitate, as the best deals may be the most prevalent in the upcoming months.