U.S. Existing Home Sales on the Rise

January 04, 2012 / Russell Legato, Residential Property Analyst

There are signs of an upturn in home sales. The U.S. residential market figures are showing that an increasing number of home buyers are recognizing the many opportunities that exist now, but may not last through 2012. The National Assoc. of Realtors is likely to be cognizant of the status of real estate home sales and they report an upturn.

U.S. Existing Home Sales on the Rise

The home sales of existing properties rose in November compared to October. Sales went higher than they had in the previous ten months. The lowest mark was in the middle of 2010. Currently, it looks like the recovery will continue to develop from this point on.

Two of the factors that will contribute to a continuing rise in home sales are mortgage rates remaining low, with potential buyers surmising that the golden opportunity to take advantage of that fact will soon come to an end; and the banks will grow a little more flexible about granting mortgages with a lower down payment than the 20 percent that is the current norm.

There is another sector that claims homeowners will not see an increase in the value of their properties in the coming year. According to their predictions, the price of homes will dip again in 2012, followed by a small increase in the following year.

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