There continue to be positive signs that the real estate market is turning around. The number of completed home sales has risen for three months in a row, and the number of pending sales has been up for five months in a row, according to the National Association of Realtors. In some places, sales have doubled since one year ago.
In most areas, the relationship between mortgage payments and income is at a comfortable level compared to historical data. Lower mortgage rates, lower prices, and the buyer tax credit are helping more and more buyers purchase homes, and this is an important part of the rebound for real estate and the economy.
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Source: Buyer Hesitation is Dissolving, from Realtor Magazine. Article available at: http://www.realtor.org/rmonews_and_commentary/Economy/0909_economy_buyerhesitation
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