Hello Internet! Here is a 1,000 foot view of where we have been this year in real estate. As you can see from the info graphics, the areas with the highest appreciation also had the lowest days on the market. Also the number of distressed properties around the nation have declined significantly making it easier for the traditional sale. There are still elevated levels on the east coast and longer days on the market overall. Inventory levels have normalized and in some cases are higher than this time last year. This is good for the market and especially buyers having more choice, plus sustainable growth for the overall market.
2014 is predicted to be another great year in the real estate market. The number of sales are projected upward, the appreciation is normalizing (not predicted to skyrocket, but still move upward). Interests rates are however, also projected upward (see picture below). Real estate is hyper local. It is impossible to only rely on national and regional data. You need to break it down to the city, neighborhood and then how it relates to your specific house. Within the same city you will have different level of appreciation, & days on the market. Especially, in larger cities like Minneapolis and St. Paul.
I hope you find this information interesting. I look forward to serving you in 2014. Travis