Real Estate News

There are lots of good news for buyers and sellers according to NAR. The real estate market is alive and well on the Westside of Los Angeles area.

Everyone should take advantage of the great possibilities available now.

The long-awaited housing recovery is beginning to blossom, according to industry experts taking a look at recent existing-home sales.

The evidence: home sales have been on the rise for the past three months, posting a 5 percent increase in December.

Lawrence Yun, chief economist for the National Association of Realtors(NAR), concurs with Dales’ assessment, saying “The pattern of home sales in recent months demonstrates a market in recovery.”

Yun suggests consumers are gaining confidence from “record low mortgage interest rates, job growth and bargain home prices.”

In addition to the 5 percent increase in December, NAR reported a 1.7 percent annual increase in existing-home sales in 2011, a total of 4.26 million homes for the year.

“The inventory supply suggests many markets will continue to see prices stabilize or grow moderately in the near future,” Yun said.