The house market has been pretty rough in the past years as sales have dropped significantly. However, that is understandable since one of the major reasons for the recessions was the fact that people were buying way too many houses than they could afford. This lead the market to crash and since there was nobody left to actually buy the existing houses on the market let alone the huge amount of houses that were put up for sale the market has been falling ever since.
It seems that in US the house market slowly recovered in the last couple of years and has managed to register a slow rise. Americans have started buying homes but the number of people who are opting to buy a house still remains small. However, things are looking good for the future as it seems that only last month the purchasing of new homes rose with 6.4 percent. This could be, however, due to the fact that during winter house purchases have dropped due to the weather, but it’s still good news for those who are looking to sell their house. In January and February, house purchases were extremely slow which set the market back.
But selling houses is not nearly as profitable as it used to be in the past because homes are still not sold for a healthy real estate market. They are sold almost half the price they are worth, even a couple of years after the recession. However, there is a difference between new homes and older houses as new homes are hard to sell nowadays. It seems that they are only about 10 percent of the overall homes sold when they should be at least 20%. This probably has to do a lot with their price as people prefer to spend less money on an older and well-built home rather than a new and much more expensive one. Another reason is also due to the fact that home buyers consider that new houses have a weaker building structure. However, the slight rose of US home purchases in April is fortunately a sign that the housing markets is starting to slowly stabilized even after a hard winter. Economists seem to be positive about the future and see steady rising throughout the year which will definitely improve the housing market until 2015. The regions that registered the biggest rates were Northeast and Midwest while in the South and West there has been a fall in prices recorded.