How the Housing Market is Faring
According to HousingWire, home sales increased 11.4% in June compared to the same time last year. So far this year, 2015 has seen an increase in housing activity in both the buyers’ and sellers’ markets. Also worthy of note, foreclosures have decreased and homebuilder confidence is rapidly increasing. So what does this all boil down to?
These three items are the driving reason behind 2015 thus far going down as a year of growth. Trends are improving and the market is stabilizing. When foreclosure activity is limited and mortgage applications are moving up, it is a good sign. It means less people are finding themselves in a hole after investing in housing. At the same time, confidence in the industry is growing and more people are willing to consider housing as an investment.
In general, this can be viewed as a step in the right direction for the industry. Overall, housing is faring well. An increase in mortgage applications and home sales paired with lower foreclosure activity has the momentum of housing swinging towards stability. The industry has not yet reached exactly where it should or wants to be, but moving forward is strong.