Existing Homes Sell Well

Existing homes in the United States are those that have not been recently constructed–and their sales have risen by the most since February 2007, prior to the crash of the housing market. The real estate market was hit particularly hard by that recession and has yet to recover because of a public that is wary of buying anything, much less large purchases like homes.

However, the latest forecast from the National Realtors Association projects a ten percent rise in existing home sales–a not-insignificant sign of progress that we can all hope will lead to a recovering economy. As to the causes of this climbing rate of sales:

Cheaper homes and stimulus such as the $8,000 incentive, extended and expanded by the Obama administration this month, have revived an ailing housing market that contributed to the worst economic slump since the Great Depression.