Home Sales Best Since 2006

2013 was a rebound year for the real estate industry that marked the highest level of sales since the housing boom year of 2006.

A report from the National Association of Realtors showed that there were 5.1 million previously owned homes sold in the year, up 9.2% from 2012 and up nearly 20% from 2011.

December sales were up slightly from November, the first month-over-month rise in the reading since July. Mortgage rates have been rising steadily since hitting record lows in May, raising the cost of purchases for home buyers.


Realtors attributed the full-year gain to rising prices, lower unemployment, a drop in foreclosures and pent-up demand, as well as mortgage rates that are still low by historical standards, even with the steady increases most of the year.


The sharp drop in distressed home sales has contributed to the impressive gain in the number of sales. Only 14% of the homes sold in December were in foreclosure or were short sales for less than the amount owed on the existing mortgage. A year earlier, nearly a quarter of sales were distressed home sales. 

Nancy Puder is a real estate broker in Arroyo Grande, CA. with Nancy Puder &Associates. If you have any questions or concerns regarding your property, you may contact Nancy to arrange a no-cost consultation at (805)710-2415 or Nancy@NancyPuder.com.  Go to Facebook.com/NancyPuderRealtor and "like" her page to access other real estate related articles.