Home Prices Expected to Increase Nearly 10% in 2013

Home prices will be on the rise in 2013 according to expert forecasting.

Home prices are expected to rise 3.4 percent at the low and 9.7% at the high in 2013 according to J.P Morgan Chase & Co.  Although some might think that the estimate is “bullish”, standard & Poor said on Friday that it expects home prices to increase by at least 5% in 2013 which is a very good confirmation of J.P. Morgan’s estimate.

A convincing rise in “net demand” for housing this year has surpassed 2 million homes for the first time since 2006 which boosted J.P. Morgan’s estimate.  Net demand is the pace of existing homes sales less the amount of inventory of homes currently for sale.