Real Estate Outlook: Existing-Home Sales Rise Again
by Carla Hill
The National Association of Realtors latest existing-home sales survey shows that sales are on the rise again. This is the third straight month of increases as well the rate rising above year ago levels. December saw a 5.0 percent rise and is now 3.6 percent above December 2010. The entire of year of 2011 experienced an overall 1.7 percent rise in existing-home sales over 2010.
Lawrence Yun, NAR chief economist, said these are early signs of what may be a sustained recovery. "The pattern of home sales in recent months demonstrates a market in recovery," he said. "Record low mortgage interest rates, job growth and again home prices are giving more consumers the confidence they need to enter the market."
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Lawrence Yun, NAR chief economist, said these are early signs of what may be a sustained recovery. "The pattern of home sales in recent months demonstrates a market in recovery," he said. "Record low mortgage interest rates, job growth and again home prices are giving more consumers the confidence they need to enter the market."
Click here for a full article
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