Home foreclosures are one thing. As people get laid off, many Americans have defaulted on their mortgages. It’s not uncommon to see suburban communities turn into ghost towns. Homes sales have been down as well that recouping money spent on buying the house is rarely gained back upon selling.
The winners, however, in such as state are those who aren’t hit quite as hard by the recession. If you have kept your job and have a comfortable nest egg stashed away, the past few months have been high time to purchase new homes. The low prices together with tax credits meant that homes can be purchased thousands of dollars off and that;s what many seemed to have done.
Newly-built single-family home sales jumped up sharply by 11% in June to an annualized rate of 384,000 homes. This was a large gain from May’s figures and defied analysts’ forecast figures of seasonally-adjusted sales of 352,000.
Compared to last year, however, sales figures are down 21% from an annualized rate of 488,000 from June of 2008. Still median price was $206,200 in June, 12% than the price of homes last year.
If you have some money stashed away, maybe it’s time to get a home now.
