Each area has its own unique market and recovering from the downturn in the economy is somewhat individual. But, looking at the overall “big” picture according to the National Realtor Association (NAR) statistics, exsisting home sales rose from December 2010 to December 2011 by 3.6 percent! The figures are based on completed transactions from multiple listing services that include single-family homes, townhomes, condominiums and co-ops. Now that is good news for everyone!
NAR’s chief economist, Lawrence Yun is quoted in saying, “The pattern of home sales in recent months demonstrates a market in recovery,” he said. “Record low mortgage interest rates, job growth and bargain home prices are giving more consumers the confidence they need to enter the market.”
CoreLogic Chief Economist, Mark Fleming wrote an article that summarizes the past, the present and looking ahead in 2012. His article is as follows: http://rismedia.com/2012-01-22/finding-the-positives-in-economic-and-housing-conditions-in-2012/