Home Sales Continue to Move in Positive Direction
January 23rd, 2012
As the nation closely watches the real estate market as a primary economic indicator, positive news was reported by CNN Money and the National Association of Realtors this week shows that home sales have improved steadily over the last 3 months.
According to the National Association of Realtors, nationwide home sales for the year are up nearly 2%, while December alone saw a 5% bump over November. December 2011 also had a 3.6% increase over December 2010. Current mortgage rates and home prices have have finally tempted potential buyers into taking action before the opportunity is missed.
Other signs of the improving market are inventory and homebuilder traffic. Builders have reported more customer traffic and project contracts in the last few months. Available inventory is quickly shrinking as well, down to 2005 levels, which drives up demand and pricing for many communities.
Needless to say, realtors and builders are very excited over the outlook for the 2012 real estate market.
For more information on the new homes for sale at One Loudoun, contact our friendly sales team today.