According to the National Association of Realtors®, an increasing number of metro areas are seeing home prices rising and first quarter sales are up from a year ago.
In quarter 1, 91 out of 152 metro areas showed higher median home prices when compared to quarter 1 of last year. Of those, 29 had double-digit increases. And first quarter sales are 11.4% above 2009 first quarter numbers. In 44 states and DC, sales increased so this positive news is nationwide. Of those, 31 states and DC saw double-digit gains.
Lawrence Yun, NAR chief economist, thinks this is due to the tax credit helping to decrease inventory which is leading to a flattening, if not rise, in home prices. And some believe that there has been a shift in the psychology of buyers believing again in the notion that housing is a long-term investment, which is helping buyers' gain confidence in the market again.
Source: National Association of Realtors
No comments:
Post a Comment