In the past two days we have had significant breaking news in the housing industry. Both existing home sales and new construction sales are setting a new trend. Finally; they are trending up. Most economists and market experts won’t give any validity to a market recovery unless they see month over month increases. Today we see our fourth month in a row of higher new construction sales and earlier this week we saw a 7.2% increase in existing home sales. That number was the highest month over month increase in nearly 10 years.
If you are looking for confidence in a purchase, look no further. These are numbers you will want to follow to understand the housing bottom and recovery. With that being said, it is impossible to buy at the perfect time. In fact, that kind of precision is stressful and debilitating. Just know, that if you follow the right steps in your purchase, the timing of the market albeit important, will take a back seat. Find a trusted advisor and challenge that professional to help you find a place that meets your needs. If you have been on the fence as of late, you might want to consider the before mentioned numbers as a positive sign of whats to come. One of my favorite quotes says “nothing is more expensive than a missed opportunity”. Is now the time? Trust the numbers, find a professional and enjoy the pride of home ownership!
If you have any questions, please e-mail me at jreynolds@urbanimg.com
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