May 23, 2012 |
Buyers are placing a premium on the purchase of new homes and, with inventory levels being very thin it is likely that sales of new homes will show stellar increase.
According to NAR ( National Association of Realtors) new home sales rose in 3.3 percent in April from the prior month and up 9.9 percent from one year ago. The improvement is roughly in line with the figure on existing homes.
New housing starts suffered much more than the existing homes market and new home sales are now more likely to see a stronger recovery….
Supporting the feel of recovery is the Realtors Confidence report. A growing number of respondents indicated a growing number of cases of multiple offers, fewer seller concessions, low inventories, and some increase in buyer interest. Many respondents noted that correctly priced properties sell quickly.
Potential Favorable News are;
- Thin Inventories – of homes for sale
- Home Affordability – Low interest rates and attractive prices continue to facilitate home purchases
- Buyers expectations – that prices may start going up will send more buyers to the marketplace