According to the Wells Fargo Economics Group, "new home sales surged 15.7 percent in January, suggesting that the housing recovery remained intact throughout the year-end budget battles and lead-up to the budget sequester. Sales ofexisting homes also increased modestly in January, and even though housing starts fell slightly... One peculiar aspect of this housing recovery has been the unusually large role cash purchases have played in driving sales and prices higher. Cash purchases accounted for 36 percent of all existing home sales in 2012, which is roughly twice the historic average. The rise in cash purchases is being led by investors purchasing properties to rent. The trade looks all the more appealing given today’s exceptionally low interest rates and paltry returns from holding bonds."
The information stated above is on the national level and is not specific to the Portland Metropolitan area.
For more information about our team, visit us at cityproperties.re. If you are interested in a condominium home, our web site bpr.com is a terrific resource. Below are a few of the new sections of our condo site.
Luxury condos - bpr.com/portland-luxury-condos.html
South Waterfront condos - bpr.com/portland-condos-south-waterfront.html
Historic Warehouse Conversion condos - bpr.com/portland-condos-historic-warehouse.html
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment