According to statistics, the housing market bottomed out in 2012. Estimates for 2013 was for housing to increase by about 12%. In truth, housing did increase in 2013, but by 13.2% from the previous year.
What is the prediction for 2014?
Inventories will still remain low, with increases on a year over year basis. The investor buying appears to have slowed. A positive for the market will a little looser mortgage credit.
What does this mean? These factors point to further price increases in 2014 but probably at a slower rate than 2013. Be prepared for whatever changes you wish to make in 2014. A current appraisal on your home will let you know where you stand.