Growth in Sales for Resale U.S. Homes

homes for saleLow interest rates and the increase in consumer demand in December 2013 led to an increase in home sales in United States, a specialized report showed today.

The report, prepared by the National Association of Realtors, showed that sales grew one percent.

The average price of existing houses climbed 9.9 percent, a rise attributed to the shortage of homes on the market.

According to experts, purchases have been affected by the increase in mortgage interest rates since the spring and recent price increases.

However, other indicators show some health in the sector since the rally in the formation of households has encouraged demand and the interest of builders to carry out new projects.

Two opposing forces impact the market: a mismatch between higher demand along with a weak growth in incomes, which has made the purchase of housing less affordable for many Americans.

Meanwhile, the Commerce Department recently reported that the start of construction of new homes declined in December, which accentuated pessimism about the situation in the sector.

For the whole of 2013, the startup of new building projects increased by 18.3 points.

The construction of single-family units, the largest segment of the market, and multi-family, oriented downwards.

The explosion of the so-called housing bubble in the US in 2008 was one of the most severe economic crises in recent decades, with dire consequences for all the world because of the high interconnectedness of global financial markets.

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