Real Estate Market Health Update
New homes sales surpassed the predetermined expectations signaling there is continual recovery in the real estate market. The new homes (seasonally-adjusted) had an annual rate of 321,000 in January. In addition, the tight supply of new homes is driving the median price up by $600. Not much of an increase, but across the board this is a sign of market vitality. Further signs indicative of a healthy housing market: record low mortgage rates, improvement in the job market, and affordability in home ownership.