The National Association of Realtors just released their latest existing-home sales survey which indicates that sales are on the rise once again making this is the third month in a row of increases. All of 2011 showed an overall increase in existing-home sales over 2010 by 1.7 percent.
N.A.R. chief economist, Lawrence Yun said, "The pattern of home sales in recent months demonstrates a market in recovery. Record low mortgage interest rates, job growth and bargain home prices are giving more consumers the confidence they need to enter the market."
Thankfully these may be the early signs of a sustained recovery but only time will tell.
With the West showing an increase of 2.6 percent as well as other parts of the nation also showing increases, this gain in existing-home sales has dropped the number of in available properties on the market which helps sellers and home prices together.
Yun also said that, "The inventory supply suggests many markets will see prices stabilize or grow moderately in the near future." Proof of his statement can be seen in the housing markets inventory which fell to 9.2 percent in December which represents that there were 2.38 million homes for sale nationwide.
Many economists and real estate professionals truly feel that in 2012 buyers should try to take advantage of these amazing market conditions.