For the first time in three and a half years, the sale of new construction homes has added to the economic recovery of the housing market. We will also watch the other factors that have, and hopefully will continue, to aid in the improvement of the market will be the extension and expansion of the Homebuyer Tax Credit and the involvement of the Federal Reserve with the secondary mortgage market.
By the Numbers
• 24% - the Gain in Existing Home Sales since January
• 22% - the Increase in New-Home purchases
• 40% - the Rise in Single-Family Housing
• 5% - Fixed 30-Year Mortgage rate is at a multi-decade low
• 30% - How far prices have dropped since May of 2006
• 350,000 – this years projected increase in sales of existing homes
• 45% - the number of First Time Homebuyers making up the market
• 7.8 months – the number of homes available, the lowest in 2.5 years
• 29% - Market Share of Distressed Home sales in September vs. 51% in March
Information published by Businessweek - November 9, 2009
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