That Little Uptick

On March 25, the Commerce Department released a report that showed  sales of newly built, single-family homes rose for the first time in seven months in February. The little uptick you see in the graph on the left stands for a 4.7 percent gain in new-home sales to a seasonally adjusted annual rate of 337,000 units in February.

That little uptick just might be the harbinger of a housing market recovery. And, if you believe that the recovery begins where the bust started, that's great news for the entire economy.

"This is an encouraging sign that the market may finally be reaching a bottom," said Joe Robson, chairman of the National Association of Home Builders. "Consumers are beginning to take advantage of the first-time home buyer tax credit, historically low morgagte rates, very affordable home prices and the great selection of homes they have to choose from in this buyer's market. For those with good credit and job security, the stars are all aligned to buy a home now."

NAHB Chief Economist David Crowe predicts that sales numbers will continue to climb as a ressult of the stimulus package, which includes the $8,000 first time buyer tax credit and higher mortgage ceilings for conforming loans, historically low interest rates, and builders' incentives. All these are working together to reverse the three year housing slide.

The key fact for people who want to buy a home but have been putting it off is that once sales begin to steadily rise, so will prices and, eventually, so will mortgage rates. So, now is the time!

Call or email us today for information about our available homes and incentives, or about custom building the home of your dreams. We're always happy to hear from you and will bend over backwards to help you acquire a beautiful new home. 

Phone: 210-244-3635; Email: bridlebit@gmail.com