Categorized | Residential

United States Property Sales Increase

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United States property sales in every state increased from their numbers last year during the third quarter. Average sale prices of residential real estate properties, however, declined more than four percent from the previous year.

The overall decline in prices does not come as a surprise for most real estate analysts, as the residential real estate market has yet to show true signs of recovery. In order for prices to start increasing again, it is necessary for the market to recover from its depressed state, particularly with respect to the availability of foreclosures.

Foreclosures are once again on the rise, which has played a role in the reduction of home prices. As such, residential properties are becoming more affordable than ever, and the market continues to remain a buyer’s market. Despite the favorable buying conditions, however, analysts believe that the numbers will continue to drop until there is more certainty in the job market across the country.

For those with secure jobs, and enough savings for a large down payment, the current market serves as an excellent opportunity to buy either a first home, or even a second or third home for rental purposes.

The number of home sales is up almost seventeen percent from last year, though the overall sales volume remained roughly at the same level that it was during the second quarter. The stagnation in sales from the second to the third quarter should come as no surprise, however, as there is generally a seasonal decline in sales during the third and fourth quarters.

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About Ella Jourgeson

Ella was recently an intern who checked all the articles for grammatical and spelling errors. She is now an all purpose writer filling in wherever we need help.

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