The United States Housing Market has finally clawed its way to recovery as consumers are gaining confidence that can be translated into more sales in the coming days, says Realtor. According to the United States National Housing Price Index, which is responsible for tracking home prices across the US, there was an annual gain of 4.2% in April 2015 and the 20 city composites increased by 4.9% while the 10 city composites showed a 4.6% increase which is a very good sign in for the realty industry.
Realtor's chief economist Jonathan Smoke said that all the sales data points in May are strong; in fact the best and healthiest since the peak of the real estate boom back in 2006. The economist added that the data represents February to April, which is still under the effects of the wicked winter. He also said that the number is a sign of a steady and above average price appreciation.
Another expert in the industry, Lynn Franco, said that consumers are in considerably better spirits and they have renewed optimism will lead into a greater willingness to spend in the near term. Executive also said that the rising prices give the consumer the logic that what you will buy today will not be worth less tomorrow.
RealtyToday also reported of the hottest real estate market for June and San Francisco, California bagged the top spot while Denver Colorado placed second after dominating the list for consecutive years. The report also echoed what has been pointed out earlier that consumers are starting to build confidence to look again in investing in real estates. It was also stated that the increase in numbers shown in May 2015 was the best number since the real estate market hit rock bottom in 2012 after it dwindled down from 2006.
