“Increases in home sales are the latest sign that the market could be starting to turn around nearly five years after the housing bubble burst,” states the Associated Press. Best of all, today’s emerging real estate market recovery is broadly based.
Most-recent sales figures show that home purchases are going up in all regions of the country when compared to a year ago, according to the National Association of Realtors (NAR). Property prices also are rising in most of the 146 metro areas tracked by NAR.
Consumers could be surprised at how quickly home prices move higher in some parts of the U.S. later this year.
One firm which analyzes real estate data projects that property values will go up by almost four percent annually for the next five years. Prices could increase by even more in neighborhoods which were most affected by the housing downturn.
Pent-up demand from many Americans who want their own place to live in – along with bargain house prices and attractive financing options – should work together to stabilize the housing market in coming months.