A recent survey done by Fannie Mae showed that consumer confidence in the housing sector increased. Also Speaking on CNBC Fannie Mae Chief Economist Doug Duncan expressed a more positive outlook for 2012 after a strong fourth quarter making 2011 a positive year in growth with more optimism for 2012.
Other signs of the upward trend are the National Association of Realtors NAR said that home sales for the fourth quarter of 2011 were up 9.2% over the same period in 2010. In January 2012 the NAR reports pending home sales are 8% higher than last year. Existing home sales are up 4.3 in January which is the third gain in previous four months. Finally, application for employment benefits are at the lowest since early 2008.
There seems to be a much lower number of available houses for sale in many of the subdivisions around Prince William County. Where in the past you may find about 5% of houses in an area on sale, you may not find any now. My last Open House was only one of two houses for sale out of 250+ homes in the community. In my opinion the housing crisis should be all behind us. The question to me is how long will interest rates remain at the record lows.
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