The uptrend in existing-home sales continues, with January sales rising for the third consecutive month with a pace that is now above year-ago levels, according to the National Association of REALTORS®.
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Existing-home sales1, which are completed transactions that include single-family, townhomes, condominiums and co-ops, increased 2.7 percent to a seasonally adjusted annual rate of 5.36 million in January from a downwardly revised 5.22 million in December, and are 5.3 percent above the 5.09 million level in January 2010. This is the first time in seven months that sales activity was higher than a year earlier.
2011 is looking promising with housing starts locally and nationally on the uprise. Add this to rising existing home sales, decrease (although slight) in the umemployment rate, and the continually low mortgage rates available – we are looking at a better year than we’ve seen in a long time. Now is really the best time to a home period.