The Year 2012 Saw Home Sales Increase by 6%

Home sales data for 2012 further supports the shared opinion that the housing market has finally turned around. Based on data analysis by CoreLogic, HousingWire reports that home sales through the entire year of 2012 were up 6% compared to 2011. New home sales and short sales increased in 2012 over 2011 levels, reaching  3% and 23% respectively. REO sales declined during the same period by “more than 20%.”

Looking forward, CoreLogic expressed optimism for home sales in 2013. They explained, “Rising home prices will continue to slowly release pent-up supply as under-equitied borrowers are unlocked and opportunistic sellers begin to provide relief to tight inventories. Geographic diversity in home price growth will continue.” http://bit.ly/Vx0rjn

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One comment on “The Year 2012 Saw Home Sales Increase by 6%

  1. I have never heard such nonsense. With todays artifically low rates the sales should be off the charts. The REO’s have declined because the banks have not been foreclosing DAH!. I have tracked the foreclosures for 4 years. The site I use represent about 40% of the market. Since July 2 there have been approximately 900 scheduled foreclosures and only 56 sales have taken place. That tells me they are only delaying the problem. Couple that with the fact that only 65% of the already foreclosed properties have come on thwe market, you have some ofd the illusion that has led to the “recovery”.

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