The Improving Economy Signals an Increase in Real Estate Activity

The Federal Reserve announced that it will stop adding to bond holdings in October. This means that the Central Bank is more confident in the economy. Further, more Americans are employed and comfortable with their job security. Also, the Fannie Mae June 2014 National Housing Survey said that workers are at an all time low for fear of losing their jobs.

Additionally, the Labor Department stated that employers added 288,000 workers to their payroll in June alone – marking the best 5-month stretch of job creation since back in early 2006. This means that more and more buyers and sellers are likely to enter the housing market.

Details of the June Existing Home Sales Report from the National Association of REALTORS:

– Total existing home sales went up 2.6% in June.
– Housing fundamentals are moving in the right direction.
– Housing inventory increased 2.2% for homes for sale.
– Listing inventory is 6.5% higher than a year ago.
– The National Median home price increased 4.6% in June and is 4.3% higher than June of last year.
– First time home buyers have increased one percentage point from last year at this time, while we are seeing the 20th consecutive month of year-over-year price gains.

Watch the video below for more details: