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Signs of an Improving Real Estate Market

In recent weeks, several encouraging reports have been released, pointing to an improvement in the real estate market and the economy in general. The latest positive news includes the following:

• According to the National Association of Realtors, sales of existing homes rose 12.3 percent in December. This was the fifth monthly increase in the past six months.

• Sales of new single-family homes rose 17.5 percent in December to the highest level in eight months.

• Pending home sales rose 2 percent in December, marking the fifth increase in the past six months.

• According to a recent Gallup poll, 67 percent of Americans said that now is a good time to buy a house.

• The Consumer Confidence Index rose in January to its highest level in eight months.

SOURCE: Weichert News

There are signs everywhere that the economy and the real estate market will be much improved in 2011.

A new year has arrived, and there are signs everywhere that the economy and the real estate market will be much improved in 2011. From more jobs to increased activity among homebuyers and sellers, it seems there is much to look forward to in the year ahead.

Some of most recent positive news includes:

• According to the National Association of Realtors (NAR), sales of existing single-family homes, townhomes, condominiums and co-ops rose 5.6 percent in November.

• NAR's Pending Home Sales Index rose 3.5 percent based on contracts signed in November. The data reflects contracts and not closings, which normally occur with a lag time of one or two months.

• Businesses added a net total of 103,000 jobs during December, bringing down the unemployment rate to the lowest level since May 2009. It was the largest one-month decline in the nation's unemployment rate since April 1998.

SOURCE: Weichert Insights