Categorized | Residential

United States Housing Sales Up 13 Percent

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The United States housing market continues to show signs of growth. The market has not yet entered what is known as the spring-buying season, and still it has experienced a strong increase in sales nationwide.

 

Housing sales are currently up thirteen percent over the past six months. In fact, sales are at their highest level in nearly two years. Research data shows that more first-time buyers are entering the market, and inventory supply of homes has reached its lowest point in seven years.

 

The residential real estate market still hasn’t yet reached the status that would indicate that it is truly healthy. However, economists across the United States are growing quite optimistic about the residential property market, and believe that it is trending in the right direction.

 

In the past month, single-family home sales have increased by nearly four percent. First-time buyers now make up thirty-three percent, which is closing in on the forty percent figure that would deem the market a healthy one.

 

The primary concern that still resonates among economists is that the residential real estate market is still inundated with homes that are at risk of default and foreclosure. That factor alone has kept houses at lower prices around the nation.

 

Once the foreclosure inventory begins to dwindle, housing prices will, without a doubt, begin to show serious signs of growth. There is no clear indication, however, as to when that will occur.

 

With mortgage rates at all-time low levels, and the housing market showing signs of improvement, many economists believe that the market could finally regain its health at some point later this year.

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About Josh Johnson

Josh is the main writer for the Residential category. He also helps out on other categories when needed, mainly the International section.

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