The National Association of Realtors in Washington has announced some very good news on Tuesday, stating that sales of previously-owned homes have risen 0.4 percent to a 5.47 million annual rate. Such figures are the highest level and fastest pace recorded since July, according to Reuters.
What is perhaps even more encouraging is the fact that January 2016 sales registered extremely impressive figures. Sales were generally up about 11 percent during the first month of 2016, the largest annual jump since July 2013.
Apart from this, January's sales pace was also the second-strongest since February 2007, reports News Max.
The real estate's sectors are very notable, especially since analysts have predicted that sales would significantly plunge on January. According to economist Ralph McLaughlin, the presence of an increase in sales alone is very good.
"The fact that there was any increase at all is a positive sign for home sales," he said, reports The Wall Street Journal.
Part of the reasons behind the real estate sector's impressive numbers lie in a number of factors, including record-low mortgage rates, steady job gains and better wage growth. Such factors have, in turn, encouraged prospective buyers, especially first-time purchases, to commit to a sale.
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