Tag Archives: Pent-up demand fuels home sales: NAR

The national median home price saw the strongest year-over-year increase in seven years as a growing number of metropolitan areas posted higher median values in the fourth quarter of 2012, the National Association of Realtors said. Favorable affordability conditions, increasing rent rates, demand for housing and job creation are some of the drivers leading to solid home price performance, said chief economist Lawrence Yun at NAR. “Home sales are on a sustained uptrend, mortgage interest rates are hovering near record lows and unsold inventory is at the lowest level in […]