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.
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.