Here are some recent positive signs for homebuyers and sellers:
- An estimated 608,000 new homes were sold in 2017. This is 8.3 percent above the 2016 figure, according to the U.S. Census Bureau and the Department of Housing and Urban Development.
- Pending home sales were up slightly in December for the third consecutive month, according to the National Association of Realtors. The Pending Home Sales Index is now at its highest level since last March.
- The U.S. Census Bureau reported that the U.S. homeownership rate increased for the first time in 13 years. The homeownership rate increased to 64.2 percent in the fourth quarter of 2017, up from 63.7 percent a year prior.
- Home seller profits surged to a 10-year high in the fourth quarter of 2017, according to ATTOM Data Solutions’ Q4 2017 Home Sales Report.
- On average, homes sold in December were on the market for 40 days, downy.from 52 days a year ago, according to the December 2017 REALTORS Confidence Index Surve