The Census Bureau reported in the last week that new homes sales have exceeded expectations for January. Sales of new homes hit an annual rate of 321,000 in January and 324,000 in December according to the Census Bureau and CNNMoney. The inventory of new homes continues to shrink despite a noticeable boost in housing starts by home builders… which is great news, a positive sign of increasing demand and an improving economy.
The recent article from CNNMoney noted other positive signs for the real estate market. “There are other signs that the long-suffering housing market is finally improving. The pace of sales of existing homes in January was at the highest point since the end of an $8,000 home buyers’ tax credit in 2010. Mortgage rates have been at record lows until a slight increase this week.”
To read the full article from CNN, visit here.