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Even "Slow Months" Pop Now!
Last week the National Association of Realtors (NAR) reported the best year of sales since the Recession. That was backed up by the understated Case-Schiller Index soon after. That Index of home sales and prices rose 5.8% compared to a year before, according to Tuesday's report. It found home sales nationwide now have "nearly recovered" the levels of their July, 2006 peak. Several major metros already are ahead of those peaks. Yesterday, the U.S. Commerce Dept agreed. New home sales surged 10.8%, to a seasonally adjusted rate of 544,000, the Commerce Dept reported. It was the third consecutive monthly gain since sales took a rest last September. Sales of new homes increased sharply" in 2015 -- rising 14.5% on the entire year, the Commerce Dept report said. Steady job growth that cut the unemployment rate to a healthy 5% was seen as key to the buying power and confidence driving sales in all three reports. Historically low mortgage rates also have contributed to the affordability of homes. Even when the Federal Reserve raised bank rates by a tiny 0.25% in December, the rates for 30-year fixed mortgages actually went down a tiny amount. Since builders still are looking for financing, and sure footing, the market for existing homes had the lowest levels of homes for sale in this century during 2015. Are you staffed up to meet the growing demand? Find the latest in business, staffing, home inspection, and radon laws and regulation with PLI. If this were "Ghostbusters," the natural question would be "Who Else You Gonna Call?"
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