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View Full Version : Sales of Existing U.S. Homes Rise to Second-Highest Since 2007



Cigar
02-23-2016, 02:02 PM
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Source: Bloomberg


Sales of previously owned U.S. homes unexpectedly rose in January to the second-highest pace since early 2007, indicating the industry will keep prospering.

Closings, which usually take place a month or two after a contract is signed, advanced 0.4 percent to a 5.47 million annual rate, the National Association of Realtors reported Tuesday in Washington. Prices climbed from January 2015 as the number of dwellings on the market fell.

Near record-low mortgage rates, steady job gains and better wage growth are helping encourage prospective buyers, including first-time purchasers. Further strengthening in residential real estate will support the economy and make up for weakness in manufacturing tied to weaker global growth.

“Consumers are pretty keen to purchase a home,” said Gennadiy Goldberg, an economist at TD Securities in New York. “Slow and steady growth is what we want. It’s really positive for the U.S. economy in general.”

http://www.bloomberg.com/news/articles/2016-02-23/sales-of-existing-u-s-homes-rise-to-second-highest-since-2007
(http://www.bloomberg.com/news/articles/2016-02-23/sales-of-existing-u-s-homes-rise-to-second-highest-since-2007)


As you can see, it's all going to Hell

texan
02-23-2016, 02:05 PM
Yes its true it is really hot right now. If they have upgrades they are selling real fast at this time with higher than normal sale prices..

exotix
02-23-2016, 02:06 PM
I think 'Make America Great Again' actually happened.

leekohler2
02-23-2016, 02:09 PM
I think 'Make America Great Again' actually happened.

It's been happening for a while now.

Mini Me
02-23-2016, 04:22 PM
Not so fast! Lets give our Reich Wing friends a chance to weigh in and poop all over this scenario, and blame Obama!

The GOP hates good news!