Housing market steadily recovering in first quarter of 2012
Posted on Friday, April 27, 2012 at 8:02:46 PM
Gains in the housing market have helped to steadily improve the overall economy, according to expert testimony. Contracts to buy previously owned homes almost reached a two-year high in March 2012, reports Forbes. While this was going on, the Dow Jones Industrial Average climbed 0.4 percent to 13,145.56, the Nasdaq composite increased 0.3 percent to 3,038.27 and the S&P 500 index rose 0.1 percent to 1,392.05.
This positive momentum in the housing industry is combining with advancement in the marketplace to improve consumer confidence. As more and more Americans make gains toward a solid financial future, home purchasing will increase.
"The recent strength of pending sales, alongside a pick-up in mortgage applications, is a positive sign that housing demand is improving," Barclays economist Peter Newland told the news source.
Consider checking out the housing market in your area if you wish to buy a new home in the near future. Record low housing interest rates, decreased property prices and the improving economy may make it the right time to check out home financing options.