Jinxin Real Estate News: Some good signs in the real estate market

Jinxin Real Estate News: Some good signs in the real estate market Jinxin Real Estate News According to several real estate market indicators, sales of existing and new homes increased last week...

Jinxin Real Estate News

According to several real estate market indicators, sales of existing and new homes increased last week, pointing to the fact that the housing market may finally enter recovery mode.

In a recent Census Bureau report, the domestic market for new homes continues to rebound. New home sales rose 1.6% from October to November, with sales up nearly 10% from November 2010.

The national median price of new home sales in November was $214,100, according to the Census Bureau. With a 6-month supply at the current sales pace, new home inventory is falling nationwide.

"Inventories of new homes are very low: there are no existing stranded new homes, so new home sales growth will translate directly into the start of new home construction," Bob Denk, senior economist at the National Association of Home Builders, told CNNMoney. "That means putting people in the construction industry back to work."

Other recent good news for the housing market: Existing home sales were up 12% in November from a year ago, new home construction starts were up nearly 21% compared with a year ago, and loan rates hit new lows last week compared to the same time last year. For more real estate information, please contact Goldtrust Realty Tinna 480-287-0180 E-mail: goldtrustrealty2010@gmail.com