As of January, the real estate market has hit a significant boom. The sale of homes in the U.S. has reached the second-highest level in three years. According to Time Moneyland, this increase in numbers is a sign that the market is making a steady recovery and is helping to boost the economy. The National Association of Realtors reported that sales had risen to 0.4 percent in January compared with the annual rate of 4.92 million in December.
Since November 2009, this number stands as the second-highest sales pace. If there hadn’t have been a drop in the number of homes for sale, Time Moneyland notes that purchases would have been even higher. However, analysts see the possibility of further improvement this year. The high demand for homes is causing the production of homes to increase, further supporting the predictions that the real estate market will continue to prosper.
For more information visit, http://business.time.com/2013/02/21/us-home-sales-rise-to-2nd-highest-pace-in-3-years.