More Good News for Housing
The National Association of Realtors reported a 4.1% increase in the pending home sales index for March, signalling continued improvement in the housing industry.
Lawrence Yun, NAR chief economist, said 2012 is expected to be a year of recovery for housing. “First quarter sales closings were the highest first quarter sales in five years. The latest contract signing activity suggests the second quarter will be equally good,” he said.
“The housing market has clearly turned the corner. Rising sales are bringing down inventory and creating much more balanced conditions around the county, which means home prices will be rising in more areas as the year progresses,” Yun said.
For the complete article, click here. If you are still renting, what are you waiting for? With interest rates still at historic lows, you can purchase a brand-new condominium from The Dragas Companies with monthly payments that are less than you are probably paying in rent! Visit dragas.com to see our well-planned communities available throughout Chesapeake, Virginia. This is the time to change your status from renter to homeowner!