Neither Flat Economic News nor Global Unrest Deterring Home Buyers
Despite the drumbeat of negative news across the world and the sputtering American economy, housing sales appear headed for one of the strongest years since 2007. The REAL Trends Housing Market Report showed that unit sales rose 10.9 percent above the previous year while the average sales price was down just 2.2 percent.
But anecdotal evidence indicates that written business for closings in February and March are even stronger for many brokerage firms from every region. Other reports indicate that there is some bounce happening with prices at the low end in markets like Phoenix and Orlando. Investors say the best of the low end inventory has already been picked over.
Why are consumers suddenly appearing to be purchasing again in increasing numbers? There are no simple answers. Low rates, rising employment and attractive pricing certainly contribute to the increases. Higher purchases by investors also contribute. Overall it appears with the rising confidence among consumers that the worst may be over.
Regardless, January starts the year out like a lion.
