All things considered, America is making a comeback, in housing.
Just finished reading this great article from the Associated Press, these numbers continue to please me. Not because I am in the business of Real Estate, but I view this as an overall recovery for everyone in our country. Take a look for yourself, and let me know what you think.
Some of the elements that I consider when reading this include:
- Comparing numbers to May of 2010 when there was a very beneficial tax break in place
- We are approaching an annual rate of 5.5million sales which is considered a healthy market, we are currently at an annual rate of 4.82 million
- Home-builders broke ground on more new homes in August than July, normally things cool off in August
- At this pace, the 2.47million homes for sale would be sold in around 6 months time, another sign of a healthy market
- Rates remain at record lows to entice new buyers or encourage people to refinance, freeing up more spendable income