The Wall St. Journal is now talking about positive news regarding the housing market. There’s a change! But even this news, while positive, isn’t especially noteworthy.
In another sign that the housing market may have begun to recover, the number of people who signed contracts to purchase homes increased for the third month in a row.
The reason that this isn’t a big deal is that this data is seasonal—home sales increase from January to February; from February to March; and from March to April most every year, good market or bad.
But here’s the good part.
Year over year, the index was up 3.2%. The 6.7% monthly increase was much larger than the 0.5% gain analysts had projected.
The national year-over-year increase was far greater than analysts had projected. This is great news for home sellers in Louisville. But for buyers sitting on the fence, they should be seriously thinking about making their move now before home prices readjust upward, interest rates climb or they miss out on the government incentives.