Tuesday, 30 December 2008
According to the National Association of Realtors, existing home sales are expected to increase in 2009 after two years of declining sales. This is good news for consumers who had been sitting on the sidelines waiting for the market to hit a bottom. The number of units is expected to increase from 5 million units sold In 2008 to 5.3 million units sold. Along with number of sales, the average sales price of these existing homes is also expected to rise from $198,600 to $200,800 again indicating a turnaround in the housing market. With low prices, low interest rates and an abundance of inventory, consumers should take advantage of this extraordinary buyers market and start to purchase real estate.
