ABC news has released a report stating that there was an increase in home sales during the month of August, 2012.
Sales of previously occupied homes rose 7.8 percent in August from July to a seasonally adjusted annual rate of 4.82 million, the National Association of Realtors said Wednesday.
This is the highest jump in home sales in America since May, 2010.
SAN FRANCISCO, CA – AUGUST 22: A sale pending sign stands in front of a home for sale on August 22, 2012 in San Francisco, California. According to a report by the National Association of Realtors, sales of existing homes rose 2.3 percent in July. (Image credit: Getty Images via @daylife)
The low interest rate now availabe and expected to go even lower, is probably the reason for the increase in home sales. The interest rate is less than 4%, which is an excellent incentive for those considering the purchase of a home.
The average price of a home has also increased over 9% of the average price this time in 2011.
Less unemployment as well as interest rates being lowered and hopefully, a new found hope for the future progress of this economy are possibly fueling the increase in home sales.
Regardless of the reasons, this increase in home sales is surely a positive sign of economic recovery for America.
If you’re interested in the technical data, be sure to check out the U.S. Census reports on New Residentual Sales here.
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