Tuesday, January 22, 2013

Steps to recovery

"Sales of U.S. existing homes unexpectedly dropped in December, restrained by the lowest supply of properties in more than a decade.

Purchases fell 1 percent to a 4.94 million annual rate last month, figures from the National Association of Realtors showed today in Washington. The reading was still the second-highest since November 2009. The median forecast of 79 economists surveyed by Bloomberg called for sales to increase to a 5.1 million rate.
Even with December’s slip, 4.65 million homes were purchased for all of 2012, the most since 2007 and a sign the housing market is making steps toward recovery. Historically low mortgage rates, an improving job market and an increasing number of households will probably spur demand for housing this year."

No comments:

Post a Comment