We have more good news to report on the housing front. According to the S&P/Case-Shiller Index, home prices have seen the biggest jump in two years! In Q3, prices were up 3.6 percent higher than they were the same time last year!
Similarly, home sales are up, as well! According to the U.S. Census Bureau, new-home sales are up a whopping 17.9 percent from this time in 2011.
These sales did dip a little — just over 4 percent — from September to October, however the numbers are still far and away much better than they were a year ago. The median sales price of a new home was $237,700 in October.
Pending-home sales, based on contractual agreements, were also up last month, according to the National Association of Realtors. From October of 2011 to October of 2012, pending-home sales rose 13.2 percent.
This news comes just after learning that mortgage rates are at an all-time low. This strongly suggets that the housing market is turning around. This means more business for you in the coming year!
As a matter of fact, it’s not too early to start thinking about your business plan for 2013. Next week, on December 5th at 1PM Eastern, join us and Secrets of Top Selling Agents for a FREE webinar with Michael Maher and Jack Cotton — “The 13 Deadly Business Planning Mistakes: Two Top Agents Show You How to Succeed in 2013“.
You’ll be able to hit the ground running in 2013 as the housing market continues to recover! See you Wednesday!