This infographic was created by the good people at ActiveRain which is an online social space for Realtors. It is the result of a survey of real estate agents from around the country. The consensus for 2012 are that; the number of transactions will increase, real estate values will be flat, home starts (new construction) will increase slightly, and that local economies will start to improve. Looking from the local perspective I can’t argue with any of these predictions.
As noted in the report, the Denver market is predicted to be one of the 10 best in the country so that is great news for Boulder County. We should continue to out perform the national market.
According to the survey, the biggest challenges facing the real estate market are:
- Short sales and underwater mortgages.
- Homebuyer inability to get a loan.
- Foreclosures and the abundance of shadow inventory.
The only item that has real relevance to the Boulder market in any significant way is #2. It is still difficult to get a loan even with low interest rates.