Housing Report Makes Convincing Case For Recovery

The housing recovery is real and broad based, according to a new national housing report. The report, which compiles MLS data from approximately 53 metropolitan areas across the country, found home sales have now risen for 12 consecutive months and prices have been climbing for the past five months. A combination of factors are drawing buyers and sellers back to the market, including record-low mortgage rates, attractive prices, and increasing consumer confidence. Of the 53 included metropolitan areas, 40 markets have seen higher sales compared to a year earlier and 31 report increases in both sales and prices. Also, the average number of days a home is on the market before selling is now 84, which is the lowest its been since August 2010. More here and here.

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