Sales increased to 9.6%. Consumers showing confidence in housing market
Posted on August 30th, 2009 in Housing Market consumer confidence, Housing Market, housing sales, market rebound
Some interesting stats about the current housing market…
Increasing confidence in the housing market shows in the July numbers as statistics show home sales raised by 9.6% up to 433,000 from 395,000 in June. With the Bloomberg polls forecasting at 390,000 sales this is a positive outlook for the market as this is possible evidence for tax cuts for first time home buyers.
Some other stats I found interesting is the raw number of homes for sale continued to decline, falling from 280,000 to 271,000 in June which is the lowest reading since 1993. Prices are still falling but with the increase in sales is evidence of a restoring market.
Until my next post
Dwaine
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