Housing market showing big improvement

Print
Email
|

by Warren Trent

Video report by Gary Harper

Posted on June 18, 2013 at 9:57 PM

Updated Monday, Jun 24 at 3:08 PM

PHOENIX -- If you've been waiting to sell your home, now may be the time.

3 On Your Side talked about the improving housing market last month when experts told us more people were building new homes and even buying existing homes.

After that report aired, it looks like the National Association of home builders agreed. The organization says that the index hit 52 this month, marking the first time since the housing market collapsed seven years ago that the index is above 50.

A 50 plus reading indicates more builders view sales conditions as "good", rather than "poor".

In recent weeks many of the major home builders have reported strong annual sales growth. That has helped pave the way for builders to raise prices and ramp up new home construction.

Signs of the housing recovery have been all around us. There’s been a drop in foreclosures, along with a steady rise of sales on previously owned homes.

Mortgage rates that hit recent record lows are also starting to rise, but that has done little to slow down the housing market.

June typically is a slow month, but we're on record right now with builders saying June is even supposed to be better than it was last month.

Print
Email
|