Real Estate Sales are up in Los Cabos
Real
Estate Sales are up in Los Cabos
The saying we have in Mexico is:
“When the U.S. sneezes, Mexico gets a cold”.
The reverse also holds true. A
good real estate market in the U.S. reflects well for Mexico.
After five long years of bad news, the prognosis
for the health of the U.S. real estate market in 2013 is surprisingly strong.
Since U.S. economic recoveries often come on the back of the real estate
market, a rebound in real estate is a great sign for the economy as well.
The
future is bright for American real estate. A recent National Association of
Realtors® (NAR) article
claims that existing home sales jumped more than 9
percent in 2012 (the largest increase in five years) and home inventory levels
hit a five-year low in December 2012.
No market is expected to see a decline in home
values or real estate transactions in 2013.
This is
good news both for the U.S. and for Mexico real estate; with a healthier market in the U.S. and
better housing values, buyers will both feel more confidence to buy a vacation
or retirement property in Mexico, and have better access to more substantial
loans. The majority of buyers from the U.S. will take a loan against
their current property and make a cash purchase in Mexico.