That’s Right, According to Lawrence Yun, the chief economist for the National Association of Realtors, he says that across the nation Pending Home Sales have reached their highest mark in two years. He also says the last year their nationwide inventory of homes was at 4.5 million and is now approximately 3.8 million.
Mr. Yun also is forecasting more home sales and prices stabilizing in the year to come. Some of his concerns are still job loss and a large long term deficit that could translate into higher mortgage rates and raising oil prices.
Mr. Yun stated positive signs include durable goods rising, the stock market holding value and increasing as well as increased exports. These are all good signs that the economy may be going back into growth mode. With inventory shrinking and prices stabilizing, Mr. Yun says, jobs should follow.
How does this news effect Mesquite NV
Mesquite is know as a resort and retirement destination. Many of the jobs here in Mesquite are service related jobs. As the economy begins to get corrected and housing prices stabilize and start to increase this will help Mesquite. When people can again sell there house and make a profit many people will look to retire in a small town out West where they get lots of sunshine and lots of golf. Also many retiree’s have been hesitant to do anything because they had lost much of what they had in the stock market. Hopefully many of those people help onto their stocks as the stock market is again going up.
This article was written by the Mesquite Real Estate Team from Bowler Realty. We provide many services and would be happy to send you a relocation guide with information about our area, if interested please fill out the contact page at the top.
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