Home sales on the rise [VIDEO]
For the sixth time in seven months, home sales jumped in October.
Existing home sales grew 1.5 percent last month. October also marked the first time this year that sales of existing homes rose on an annual basis.
The increases have been cited as a sign that the housing market is kicking again, after a jump in mortgage rates last year dragged down existing home sales.
Rising mortgage rates were a detriment to home purchases last year as well, but recently, they have eased.
While sales aren’t hitting pre-recession levels anytime soon, experts believe that if this pace of growth can continue, realtors will be in for a pretty good 2015.
And, in case you’re worried that all this buying is draining the market, the inventory of available homes also increased last month on an annual basis!
By: Equity National December 31, 2014 Uncategorized