Home sales in Boston
The employment rate is beginning to show some improvement down 3,250 claims from last month. Consumer confidence is up 15 points in the last month, another positive sign for the economy.
In addition, home affordability also improved as interest rates fell even more. This means that more first-time home buyers are able to buy, that's 34% of the sales in October, up 32% last month and over 2010.
A better job market with encouraging signs from the housing sector, including a 10% increase in pending sales for October, are good news. While mortgages still remain a challenge, these improvements may send a signal to banks to relax lending regulations and allow for a faster recovery.
In addition, home affordability also improved as interest rates fell even more. This means that more first-time home buyers are able to buy, that's 34% of the sales in October, up 32% last month and over 2010.
A better job market with encouraging signs from the housing sector, including a 10% increase in pending sales for October, are good news. While mortgages still remain a challenge, these improvements may send a signal to banks to relax lending regulations and allow for a faster recovery.
Posted at 12/12/2011 09:49 AM by
Emmanuel Scibilia
Categories:
Boston Real Estate
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