US pending home sales rise to highest since 2010
Published: February 27, 2013
Leave a comment
In this Saturday, Jan. 5, 2013, photo, a sale pending sign is outside of a house in Mount Lebanon, Pa. A measure of the number of Americans who signed contracts to buy homes rose in January from December to the highest level in more than 2 ½ years. The increase suggests sales of previously occupied homes will continue rising in the coming months. (AP Photo/Gene J. Puskar)
Multimedia
And new-home sales jumped 16 percent last month from December to the highest level since July 2008, the Commerce Department said Tuesday.
Home prices, meanwhile, rose by the most in more than six years in the 12 months ending in December.
Steady price increases are also contributing to the housing recovery. They encourage more people to buy before prices rise further. Higher prices also build homeowners' wealth, which can spur more spending and economic growth.
Builders, meanwhile, started work on the most new homes in 4 ½ years in December. Last year was the best year for residential construction since 2008, just after the recession started.
Prev
If you prefer your thoughts to appear in The Oklahoman's Opinion section, we encourage you to submit a letter to the editor.
Mortgage Rates Hit 2.50%
White House Program Cuts Up to $1k off Monthly Payments! (2.90% APR)
www.SeeRefinanceRates.com
White House Program Cuts Up to $1k off Monthly Payments! (2.90% APR)
www.SeeRefinanceRates.com
Happy Grazers Slow Feeder
Cut chore time in half, Save money & have Happier, Healthier horses!
www.HappyGrazers.com
Cut chore time in half, Save money & have Happier, Healthier horses!
www.HappyGrazers.com
