A new year has arrived, and there are signs everywhere that the economy and the real estate market will be much improved in 2011. From more jobs to increased activity among homebuyers and sellers, it seems there is much to look forward to in the year ahead.
Some of the most recent positive news includes:
- According to the National Association of Realtors (NAR), sales of existing single-family homes, townhomes, condominiums, and co-ops rose 5.6 percent in November.
- NAR’s Pending Home Sales Index rose 3.5 percent based on contracts signed in November. The data reflects contracts and not closings, which normally occur with a lag time of one or two months.
- Businesses added a net total of 103,000 jobs during December, bringing down the unemployment rate to the lowest level since May 2009. It was the largest one-month decline in the nation’s unemployment rate since April 1998.
- People started off the year thinking about real estate. Weichert received a record-high number of inquiries from consumers on the first business day of 2011.
