Home sales rose in 2012 to 5-year high; market improves in the Ozarks

OZARK, Mo. —  While home sales across the nation reached a five-year high in 2012, the Glidwell family of Ozark is hopes the time is right for them to sell.

“Having a kid kind of changed everything, and that’s when we decided once the three years is up, we would want a little bit bigger of a house,’ said Brock Glidwell.

Three years after taking advantage of the $8,000 home buyer tax credit, the family can sell without being penalized.  Buyer’s Specialist Mike Brown said he’s seeing it more and more.    

“A lot of those homes are going to be coming back on the market as those people go to the next level home. So, I think we’re going to see a lot of activity at all price levels,” said Brown, with the Faunlee Harle Team.

Brown said the market really picked up in 2012.
    
It was the big boost the real estate market has been waiting for after the bubble burst several years ago, and homes sales moved at a crawl.

“Some homes were sitting 500 – 600 days,” said Brown.

But last year, Brown said, homes in the Ozarks were selling between 180 and 190 days on average after being listed.  Moreover, the Realtor team for which he works has been selling houses in the Springfield area for about 95 percent of the listing price.
    
Aside from the expiration penalty for the tax credit, Brown said low interest rates and an improving job market have also helped boost sales.
   
At the same time, there aren’t enough houses on the market to meet the growing demand.    

“We’re talking to old listings, people we knew that might want to sell because we need more homes,” said Brown.

The Glidwells hope their home will be that perfect fit for another family, while they search for their new house.

“It seemed like it couldn’t get any worse. So anybody that follows economics knows, it’s going to have to go up at some point and seems like we might be at the beginning of that,” said Brock Glidwell.