Sarasota, Florida (PRWEB) January 09, 2013
Recent bullish sentiments in Wall Street on housing-related shares reaffirm that the resurgent home market is durable and thus will continue to help in mending the U.S. economy, Sarasota Bay Real Estate said. Strengthening home sales and price data in the past few months are fueling investor interest on housing stocks, the full service realty firm noted.
The housing market’s resurgence was again manifested this November when sales of new homes rose 4.4 percent nationally from October to 377,000 units, according to a U.S. Commerce Department report. This gain is the fastest clip since April 2010 when sales were boosted by a federal tax credit. This year’s November new-home sales have also risen 15.3 percent from a year earlier.
Resale of previously occupied homes likewise hit three-year record high levels this November, according to the National Association of Realtors. Sales of existing home for the month totaled 5.04 million, up 5.9 percent from 4.76 million this October and 14.5 percent higher than the 4.4 million sold in November 2011.
The housing recovery likewise appear resilient enough even in the face of fiscal threats now still being resolved by the U.S. government, SBRE observed. The Standard & Poor’s/Case-Shiller national home price index in October released a 4.3 percent increase from a year ago. That’s the biggest year-over-year improvement in two and a half years and was ahead of most housing analysts’ estimates. Out of the twenty cities that the index tracks, eighteen showed price gains.
Positive Outlook for Southwest Florida Housing
Manifesting Wall Street investors’ bullish outlook on housing-related shares, gains of as much as 150 percent have been estimated for these issues in the stock market. Notably, the PulteGroup, the largest U.S. home builder, emerged atop the 2012 list of the five biggest gainers in Standard & Poor's 500 index, with its shares of stocks showing a 182 percent improvement from 2011.
Significantly, the PulteGroup is optimistic in housing prospects in Southwest Florida wherein the Tampa Bay area emerged as one of the metro districts having the highest gains in the October Standard & Poor’s/Case-Shiller national home price index with an increase of nearly 6 percent. In addition to its existing communities in the area, the national homebuilder has several development projects in the pipeline there, Sarasota Bay Real Estate said. PulteGroup’s Centex unit, the full service real estate company noted, has begun developing eighty-five home sites in The Reserve at Crossing Creek, located at 44th Avenue East and 69th Street East in Manatee.
The Crossing Creek area is one of the most popular locations in Bradenton, Sarasota Bay Real Estate said. It has a community “tot lot,” and the new Creekwood dog park is only a few blocks away. This neighborhood is among the newer communities just off State Road 70. It is conveniently close to major shopping centers, new schools, golf facilities, and is merely minutes away from I-75, enabling fast transit either north or south.
The residences in this community are rarely listed among Bradenton and Sarasota homes for sale. An occasional MLS listing for a three-bedroom, move-in ready home built in 2007 with 2,254 square feet of space at the Crossing Creek Village can be up for grabs with a quoted price in the low $200s.
About Sarasota Bay Real Estate
Sarasota Bay Real Estate is a full service real estate brokerage in Sarasota Florida owned by Sarasota real estate broker, Christina Miller, and marketing professional, Roy Hunter. Together they, and their team of well-experienced agents, provide the best-in-class real estate marketing services for the properties in the company’s inventory.
Sarasota Bay Real Estate Internet assets receive more than 1,000 visits from perspective home buyers a day due to the wealth of local community information published by the company. Through a direct feed from the Sarasota MLS, Sarasota Bay Real Estate publishes the most current real estate information on the Internet for the Sarasota, Florida, market.
Contact information for Sarasota Bay Real Estate can be found at http://sarasotabayrealestate.com