Business

Did the housing market improve?
by kristina leskova

Are you searching for a new home? Or do you want to sell some house? Then you should be interested in housing market and the current situation. The situation is still changing. Once it was better but now we can observe small changes which mean fall of home sales. Last month the sales fell 2,7 percent in comparison with the earlier month. But most of the economists think that this decrease will not last very long and soon there will come another improvement. When we compare this year sales with the last year they are up 3,4 percent. But there are still questions what will happen in two or three weeks. When will be the housing market regulated? Some real estate agents are lob! bying for an extension of the credit. Without money it is not possible to stabilize the market. Much of the work did the first-time buyers. They bought one of three homes in August. There are still people who think that housing market is not in recovery mode. They think that housing market still have not reached the bottom. If we want a normal housing market the sales need to rise from 5,5 million to 6 million per year. And it is important that people believe in improvement. If they will see stable prices they will be more willing to buy new homes. But there is also some problem which influences the sales. Nowadays it is harder to get some money because there are new standards and rules. Good message is that mortgage rates are quite low and affordable for many people. For example average rate on 30 year fixed rate loan is 5,04 percent. And most of the homes is sold in West.

related story (sgx15458): http://news.yahoo.com/s! /ap/2009 0924/ap_on_re_us/us_home_sale...

by kristina leskova for PocketNews (http://pocketnews.tv)

PocketNews is a new real-time news broadcaster delivering the latest and hottest news right to your pocket ! With global clients who want to be kept up to date, PocketNews is everyone's way of keeping in touch with the World.

posted by Blog TechSource @ 1:09 PM