There May Be Hope for the Real Estate Market Yet!
By Heather Faucher | Posted on August 13, 2009 | Filed Under Real Estate
There may be hope for consumers who have spent months–if not years–trying to sell their homes in a housing market that has been not-so-hot for the past couple of years. According to the latest survey conducted by the National Association of REALTORS®, existing-home sales showed healthy gains in the second quarter versus the first quarter in most states. Additionally, the decline in home prices has increased the affordability in most metro areas.
Thirty-nine states showed increased sales compared to the first quarter, and nine states had higher sales than those from a year ago; the District of Columbia enjoyed both quarterly and annual increases. According to the survey, the nation’s total existing-home sales (which includes single-family as well as condo properties) increased by 3.8 percent in the second quarter compared to the first, although it remains 2.9 percent lower than the amount of sales in the second quarter of 2008. Still, the fact that sales are once again increasing is definitely a positive sign.
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Tags: existing-home sales, housing, housing market, Real Estate, real estate market
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