The number of U.S. homes sold in 2012, 4.65 million, is slightly lower than the 5 million homes sold five years ago, before the housing-market crisis.
Jupiter, FL (PRWEB) February 09, 2013
Steady December home sales capped the best year for the U.S. real estate market in five years, according to an industry trade group report Tuesday.
The National Association of Realtors is reporting 2012, the year that sparked the housing industry’s steady recovery, marked the best year for sales of existing homes in the United States since 2007.
The high-profile trade group said the number of transactions in December, 2012, was 12.8-percent higher than the number of transactions in December, 2011. Further, the rate of sales for all of last year is 9 percent above the rate of sales for all of 2011, coming in at 4.65 million properties.
Waterfront Properties and Club Communities and its team of Realtors are part of the success story, with sales of homes in Admiral’s Cove by Rob Thomson and the River Team, and sales of oceanfront condos on Singer Island by John Nugent, for example, outpacing the industry norm. Waterfront Properties agents receive high-technology training and offer concierge-style services that enable them to complete transactions more successfully than their competitors.
The number of U.S. homes sold in 2012, 4.65 million, is slightly lower than the 5 million homes sold five years ago, before the housing-market crisis. Among the reasons sales are so strong are mortgage-interest rates that have dipped to record lows and an improvement in home values that has led to higher prices. The two factors combined have created a dynamic that is spurring homebuyers into action and enticing homeowners to sell. The National Association of Realtors predicts that in 2013, the number of homes sold will reach 5.1 million, with 5.4 million forecast for 2014.
Consumer confidence is improving, too, with lower unemployment, the end of the fiscal-cliff scare, the drama of the election in the rear-view mirror and an economy that is on the rise -- primarily because of the housing market. Economists believe the housing market will be the main driver of financial growth in 2013, and it will serve as the catalyst that pulls the country out of recession. Economists said housing starts, or new construction, will reach 1 million or more this year and will create as many new jobs. Those jobs will come not only in the form of construction spots, but also opportunities in manufacturing.
The supply-and-demand status – now in a slightly inverse proportion, with supply down and demand up – will lead to an approximate 3.7-percent rise in home values this year, economists said.
Waterfront Properties, which specializes in southeast Florida real estate for sale, can help homebuyers and homesellers achieve their goals quickly and responsibly at a time when the conditions are right. The company has been in business for two decades and has a stellar reputation as a purveyor of luxury property on the water and in golf-course communities, as well as a licensed brokerage firm. Thomson is the company’s managing partner and co-founder.
About 70 agents, based out of offices in North Palm Beach, Jupiter (company headquarters) and Stuart, focus on specific territories and have the local, detailed knowledge needed to help clients make the best decision. For information, call 561-746-7272.