Real Estate Market Improves
After a long period of time, it appears that maybe the Real Estate market is starting to come back to life. There is a durst of Listings on the market and pent up demand for those trying to buy a home for the first time and sales prices are increasing.
Here is an article that discusses the latest news and trend that seems to indicate that Real Estate is on an up swing.
NAR: Home Sales to Rise 9% in 2013
January 29th, 2013 | by Elizabeth Ecker Published in Reverse Mortgage
“Home sales are expected to continue on an uptrend with an expected 9% increase in 2013, according to estimates released this week by the National Association of Realtors.
Pending home sales, tracked by NAR, fell in December from 106.3 to 101.7 on the association’s index scale but maintain a lead over year-ago sales which as continued for 20 consecutive months. Further, says NAR, sales will rise in the coming year on buyer interest and more available inventory of housing.
“The supply limitation appears to be the main factor holding back contract signings in the past month,” said Lawrence Yun, NAR chief economist. “Still, contract activity has risen for 20 straight months on a year-over-year basis,” he said. “Buyer interest remains solid, as evidenced by a separate Realtor® survey which shows that buyer foot traffic is easily outpacing seller traffic.”’
The second half of this article will be in my next post.