According to a recent article in Bloomberg Business, sales of previously owned homes jumped in March by the most in four years, putting the U.S. residential real estate market on firm footing heading into the busiest time of year.
Recent figures from the National Association of Realtors showed purchases increased 6.1 percent to a 5.19 million annualized rate, the highest level since September 2013. Houses were snapped up in 52 days on average, the fastest since July, and property values appreciated.
“Housing is recovering but home prices are rising too fast,” Lawrence Yun, NAR chief economist, said in a news conference recently. “The only way to relieve housing cost pressure is to have more supply coming into the market.”
This, in turn, has the homebuilders more confident better times are ahead. The National Association of Home Builders/Wells Fargo sentiment gauge rose in April to a three month high amid improved buyer traffic and a more positive sales outlook.
Thank You
I want to thank everyone for their support during our Hope for the Homeless campaign. Partnering with the Realtor Association of Southern Kentucky and the Builder’s Association of South Central Kentucky, we extended that reach to our employees and customers. Your cash and food contributions were delivered to the Builder’s Association on April 16, 2015 and forwarded on to the Realtor Association’s Hope for the Homeless event scheduled for April 24-27. Last years Hope for the Homeless event collected over 25,000 pounds of food.
