In David Charron’s latest commentary for the Washington Post, he outlined the major trends that are going to dominate the real estate market in the coming year. Last year’s running storyline was one of low inventory, which he expects will ease up in 2014. However, it probably will not ease up enough to meet buyer demand, so sellers could still be at an advantage for the foreseeable future. This increase in supply plus the rise in interest rates and changes to mortgage rules will likely lengthen Days on Market (DOM) slightly, but given the large pent up demand for homes, 2014 looks to be a year of health and stability.
Go here to read the full article.