According to the National Association of Realtors, existing home sales are up in February and expected to stay that way this month. Since September, the market has been considered fairly stable.
Lawrence Yun, NAR economist, said the gain is encouraging. “We’re not expecting a notable gain in existing-home sales until the second half of this year, but the improvement is another sign that the market is stabilizing,” he said. “Buyers taking advantage of higher loan limits for both FHA and conventional mortgages will unleash some pent-up demand. As inventories are drawn down, prices in many markets should be positive later this year.”
Good signs for all! Homes are on the move….