Real Estate Strategies for an Upturning Market
Nationwide, the housing supply dropped to 2.3 million in January, a seven-year low, causing some market watchers to predict a spring boost in housing prices. U.S. real estate agents saw last month’s increase in the number of first-time home buyers as an encouraging sign. First-time buyers accounted for 33% of January housing sales. Another encouraging sign that the housing market is on the rebound was the increase in foreclosure sales which accounted for 35% of total January housing sales. At that rate, it would still take more than 6 months to clear the current housing backlog; but it is a considerable improvement over the 2 to 4 years some economists predicted it could take for the housing backlog to return to normal levels.
Share on Facebook
