In February, previously owned homes reached an annual rate of nearly 5 million, which is the strongest pace in over three years. This is up 10% from last year, and is a positive force in the economy. A decline in the unemployment rate, a drop in foreclosures, and low mortgage rates are causing this change. The median sale price for homes as $173,600, which is up 12% from last year. There was also an increase of homes put on the market, but the supply of homes is still tight.
http://money.cnn.com/2013/03/21/news/economy/home-sales/index.html
http://money.cnn.com/2013/03/21/news/economy/home-sales/index.html
3 comments:
Interesting article. Home sales are one of those figures that is always talked about. It's great to see home sales increasing. I wonder if home sales will ever reach the highs of before the recession, given the strong shift toward multi-family, apartment style living.
Rising home sales seems like a good sign for the economy and shows that consumers fears have subsided somewhat. Hopefully consumer confidence will continue to increase and create a positive feedback loop for the economy.
Home sales are a great indicator for the improvement of the economy. This might mean that mortgage deals are getting better and future homeowners are feeling more comfortable making purchases.
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