Increase in Home Sales in US since Last Year

Increase in Home Sales in US since Last Year

After a slack in sale of new home in US in the year 2014, the real estate market is showing a positive trend with the increase in sales since December 2014. The sale of new home in the year 2014 was 435000. It increased by just 1.2% since 2013. Focus on high end houses having higher values has been attributed as one of the main causes for the drop in sale of new houses in 2014. High mortgage rate is also another reason for the decrease in sale of new homes.

However since the month of December 2014 the sale has picked up by 11.6% as per the Commerce Department, indicating more sales in the coming months of the year 2015.
The reason for the increase in sale has been cited to be lower mortgage rates resulting in easy financing and also the fact that the value of new homes are rising at a slower pace. The decline in mortgage rate has made expensive and larger homes affordable to the buyers who were reluctant to buy a new home previously.

Another significant reason for the rise in the percentage is the fact that health of US economy has improved since last year. The rate of unemployment has dropped due to provision of more jobs for people as per the labor department.  Solid hiring by many companies has taken place. Though the average wages have not increased considerable, however, the addition of more jobs has resulted in additional paychecks in a family, which has improved affordability of buying home.


 

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