Latest Housing Data Positive/ Westfield Market Poised for Record-Setting Year

The national housing data released this week revealed that the pace of improvement slowed a bit toward the end of the year, but also provided reasons to be optimistic heading into 2014.  November Existing Home Sales declined a little from October, and the total inventory of existing homes available for sale also dropped. According to the National Association of Realtors, there is a "pent-up demand" for housing, but tight supply conditions have constrained home purchases.
Addressing this issue, home builders are ramping up their pace of construction. November Housing Starts surged 23% from October to the highest level since February 2008. Housing Starts were 30% higher than one year ago. Building Permits also increased in November. The December NAHB Home Builders confidence index jumped to the highest level since August.  
All of these factors point to a robust Spring Housing Market locally. With an expected 7% increase in existing home sales prices for 2014 and a one-seat ride into NYC scheduled to begin in March,  the Westfield real estate market could see a frenzy of activity starting in January.
So, if you are thinking about selling your home, now is the time to take action!    I will utilize my market knowledge and negotiating skills to ensure that the selling/ buying process is seamless and the desired outcome is fully achieved.  Please call me for a complimentary market analysis of your home so we can discuss how to sell your home for top dollar.

Ed O'Brien
Keller Williams Realty
edobrien@kw.com
917-374-7447