U.S. sales of new homes jumped 7.9% in January to the fastest pace in more than 12 years, a positive sign for economic growth. The Commerce Department said Wednesday that new homes sold at a seasonally adjusted annual rate of 764,000 last month. That’s the highest sales rate since July 2007, shortly before the U.S.
Bucking a national trend, sales of single-family homes soared by double digits in Hillsborough, Pinellas and Hernando counties in September. That dramatic increase, coupled with minor price increases, suggests that a real estate market that has favored sellers for several years is finally starting to swing a bit in favor of buyers. Another positive sign
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The growing signs of a slowdown in the housing market might be good news for homebuyers. Slowing home prices – after the double-digit increases last year – mixed with still-low interest rates are making homes more affordable. In addition, the supply of homes for sale today represents 5.8 months of demand, the most since October