Existing Home Sales Take A Surprising Rise

The US housing market seems to be recovering soon from the recession than any of the industries. The exiting home sales were reported to increase by 5.1 percent in February. The annual rate has increased to 4.72 million units from 4.49 million units in January.

This rise is surprising as well as significant amid the woes of the industry. The rise is not as big, but even a small rise in indexes is just enough to boost the hopes of real estate industry again.

It is the decline in existing home prices and increase in discount rates that actually is the main cause of increase in house sales. Prices are expected to fall to further extent, and I think this will likely boost the sales to more good numbers.

The recent trends of cutting jobs, in almost all the industries, have the potential to obstruct people from even thinking of buying a house.

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