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.


 

Featured Articles

What's Trending

What's Trending

What's Trending

What's Trending

What's Trending

What's Trending

What's Trending

What's Trending

The Spot Light

Travel to Lisse where you can see 7 million blooms in spring

Travel to Lisse where you can…

Why You Should Travel Green

Why You Should Travel Green

What you should know before traveling to Turkmenistan

What you should know before…

Packing Tips for Travelling

Packing Tips for Travelling

Welcome To One World Trade Center

Welcome To One World Trade…

The Editor's Choice

Trump sold $35 million in real estate in 2017 to secret buyers

Trump sold $35 million in real estate in 2017 to secret buyers

After taking office, Donald Trump sold $35 million in real estate to secretive buyers. The estates in question include 41 luxury condo units in Las Vegas. According to a USA Today report, these buyers used limited liability companies (LLCs) to remain anonymous. President Trump has access to these…

What should you do to prepare for an Open House?

What should you do to prepare for an Open House?

If you are planning on selling your home, it must look clean and appealing. The following are some steps to help you make your house impeccable, pristine, and definitively inviting. This will determine how successful your open house is and shorten the time it takes to complete a purchase once it…

What insurance do you need if you buy a duplex?

What insurance do you need if you buy a duplex?

Insuring a duplex is very different from one for a single-family home. For starters, this is two families living under the same roof, although they are different homes. In the end, it all comes down to the buyer's intentions for the property. What to Consider To know how to insure a duplex,…

In real estate, what is a cooperative?

In real estate, what is a cooperative?

Buying or renting a house are not the only ways of putting a roof over your head. Housing cooperatives, commonly known as co-ops, provide an alternative. We will be explaining what this type of house tenure is, features, differences in condominiums, and costs. Basically a cooperative in real estate…

What and where is the Occidental Grand Papagayo?

What and where is the Occidental Grand Papagayo?

Occidental Papagayo is a beautiful and modernized resort that is ideal for couples. It is located in Guanacaste, Costa Rica and attracts millions of tourists from all across the globe. Unlike other hotels in this region, this inclusive resort only offers its services to adults seeking a mix of…

Visit 1984 Isgyvenimo Drama

Visit 1984 Isgyvenimo Drama

There are several attractions to visit if you ever travel to Lithuania. 1984: Isgyvenimo Drama (or 1984: Survival Drama) is a reproduction of an actual Soviet bunker built in the 1980s. To get more information about the site and its attractions, you can visit their website at sovietbunker.com. When…

Weeki Wachee Springs

Weeki Wachee Springs

Weeki Wachee Springs is a great attraction that the whole family will surely delight in visiting. It's actually one of the 22 first-magnitude springs located in Florida. What makes the Weeki Wachee Springs a tourists' favorite are the activities it has for the guests. To name a few of the…

Visit the Karni Mata Temple, Deslinoke, India

Visit the Karni Mata Temple, Deslinoke, India

Visiting India as a tourist provides an opportunity to absorb experiences far different than we are used to in the West. Even walking in the streets can be an example of what it’s like to be immersed in a completely different culture. Many of the tourist spots reflect this as well,…