TURNING THE CORNER
December 23, 2009
Good news! Indicators from several different sectors are showing that the market has moved past its “bottom end”, is stabilizing and getting ready for new growth.
The continuing increase in home sales over the past 4 months is the first big sign of recovery. According to the National Association of Realtors, the volume of home sales increased by 7.2 percent across the country, and it is the first time in five years that home sales rose continuously for 4 months. 30 percent of those purchases came from first time buyers
taking advantage of the $8000 tax credit.
Another positive indicator comes from a report by the
National Association of Home Builders. Because of the increase in home sales, home remodeling jobs are on the upswing again after avery lean period. A recent survey conducted by Relocation.com revealed that Americans are less likely to move for economic reasons than they were 6 months ago. Foreclosures and job losses were the key motive for relocation last March.Now more relocating homebuyers are primarily looking for a better neighborhood or a bigger house. Because the real estate market is so significantly tied to the overall economy,
these signs are wonderful indicators that better days are here once again.
For professional advice on all aspects of buying or selling real estate, please contact me at:
aross@miamirealestate.com
or 305-960-2575, or come by
the office at 355 Alhambra
Circle, 9th Floor, in Coral
Gables.
