Sales Contracts Reach 2-Year High
Americans signed more contracts to buy homes in May than they have in two years, according to The Augusta Chronicle, leading to more confidence in the housing market and inching us ever closer to recovery.
The National Association of Realtors reports that its index of sales agreements increased to 101.1 in May from 95.5 in April, finally surpassing the healthy 100 mark. The index matches March’s reading, 13.3 percent higher than it was a year ago and the highest since April 2010, when a home-buying tax credit boosted sales.
This news along with low interest rates and record low prices on homes and land combine to create the perfect environment for purchasing property. If you’re considering purchasing land specifically, prices are lower than they’ve been in over 25 years. Whether you’re purchasing your first home or lot, or whether it’s a second home or additional acreage, now is the time to buy.