According to data provided by the National Association of REALTORS, sales of existing homes across the country have hit the highest point since 2007. In the West, Northeast, and South, this portion of the real estate market has seen month over month as well as year over year gains.
This has been a trend for a while, and we’ve written about the potential bull market real estate in the past. This just solidifies the previous speculations.
- Sales of existing homes reached the highest pace in a decade at a seasonally adjusted annual rate of 5.69 million.
- January marked the 59th consecutive month of year-over-year price gains as the median home price rose 7.1% to $228,900.
- NAR’s Chief Economist, Lawrence Yun had this to say, “Much of the country saw robust sales activity last month as strong hiring and improved consumer confidence at the end of last year appear to have sparked considerable interest in buying a home.”
What does that mean for you?
Home sales are continuing to climb nation-wide, but the Jacksonville/Camp Lejeune North Carolina real estate market can sometimes defy the national trends. For up-to-date, accurate information regarding the implications of this information, find a local Jacksonville real estate agent.