New Home sales climb to a one year high!
New home sales for the month of August climbed to the highest level in a year which is another sign of an improving economy in the housing industry. Prices have come down to compete with forclosures, and the great part of this increase is the ability to reduce the inventory of existing homes on the market. The West is benefiting the most from this increase due to inventory, the South had minimal change, and the Midwest and Northeast still a decline. Locally were still seeing buyers active on the buying side due to prices and the cooperation of sellers serious about selling their properties. Some are holding out on the prices they want, but were seeing that number getting smaller as sellers are ready to finally follow through on a lifestyle change, and move on with their lives rather than being tied down by their local real estate and the costs of holding on to their condos/homes. Its a great article that can obtained from the link below with the information coming from Bloomberg.com. Enjoy the article!
http://www.bloomberg.com/apps/news?pid=20670001&sid=auSxxsIIQhzo