Tuesday, February 8, 2011

U.S. real estate market is changing for the better?

In December, sales of new homes in the country grew by 17,5% compared with November. Analysts were expecting a much more modest results.

Median price of private residential building in December increased by 12,1% for November and by 8.5% - compared with the same period in 2009, to $ 241 500, RTT News reported, citing the Ministry of Commerce.

According to recent statistics of the National Association of Realtors USA, in December sales on secondary market rose for the fifth time in the last six months, by 12,3% compared with November. According to the Association's chief economist Lawrence Young, restoring housing market continues against the backdrop of improvements in the labor market and rising rental rates, which may encourage tenants to acquire their own housing, especially now that it is quite accessible.

Recall that the index of housing prices in 20 major U.S. cities S & P / Case-Shiller in November 2010 fell to 1.6% for October. Monthly decline was noted in all the cities that participated in the study, except San Diego.
Source: Prian.ru

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