According to a March 22, 2012 article in the Business Section, the sales pace in January was the highest since May 2010, the last month that buyers could qualify for a federal home-buying tax credit. The combined January/February totals helped boosts sales ahead of the crucial spring buying season. Though some indicators such as the numbers of first-time buyers, and the general sales are below what economists equate with healthy markets, Chris Jones, an economist at TD Economics, said the the “economic environment is ripe for home sales to keep gaining pace.”
According to the article, “The median sale price of homes rose for the first time in four months in February…And the supply of homes on the market increased more than 4% in February to 2.43 million, which could signal that more homeowners became confident in the housing market.”
Mortgage rates are still near record lows.