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Seven Signs Lakewood Ranch Real Estate and Real Estate Nationwide Are Improving

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Real Estate Agent with RE/MAX Alliance Group

Recently released figures indicate real estate nationwide and Lakewood Ranch real estate are continuing to steadily improve. Here are seven signs that demonstrate the upturn:

1. Housing affordability has risen dramatically. This is due to a combination of reduced real estate prices and record-low mortgage rates.

2. Housing starts are increasing, driven mostly by multifamily starts.

3. Existing home sales increased in January. That means we’ve now had three months of gains out of the past four months.

4. Total housing inventory fell to a 6.1 month supply at the end of January. This means that on average it now takes just over 6 months to sell a home, which is an improvement. According to Lawrence Yun, NAR chief economist, "The broad inventory condition can be described as moving into a rough balance, not favoring buyers or sellers."

5. There are plenty of home buyers and investors competing for foreclosure sales in almost all markets.

6. Purchases of homes are on the rise by all types of buyers, from seasoned investors to first-time home buyers.

7. Most economists agree that the market is improving. Frank Nothaft, Freddie Mac vice president and chief economist says, “Our outlook anticipates gradual, but steady, improvement in the economy and the housing market, supported by low interest rates and brightening job market prospects.”

This is excellent news for the Lakewood Ranch real estate season that’s here. If you’ve been considering buying or selling a home, now’s the time to start that process so you’re ready for the hottest season we’ve seen in years.

Thinking about buying or selling Lakewood Ranch real estate? Please contact your Lakewood Ranch Realtor® Ellen Ferber Evans at 941-773-6907 or Alan Evans at 941-773-6906 today or email us at ellen@lakewoodranchareahomes.com. We can help you achieve your goals.

REMAX Alliance Group, 5411 University Parkway, Sarasota, Florida 34201.

Links:

Existing home sales increased in January
http://www.marketwatch.com/story/existing-home-sales-rise-again-in-january-inventory-down-2012-02-22

Lawrence Yun, NAR chief economist
http://www.realtor.org/research/chief_economist_bio

Frank Nothaft, Freddie Mac vice president and chief economist
http://www.freddiemac.com/bios/exec/nothaft.html

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