Economists say and statistics show that there are true signs of improvement in the most recent housing figures for U.S. and Brooklyn real estate markets. Here are a few of those stats:
Investors bought 1.23 million homes in 2011, up 64.5 percent over 2010, according to data from the National Association of REALTORS®.
- The median investment-home price was $100,000 in 2011, up 6.4 percent from $94,000 in 2010.
- Single-family home sales rose 3 percent in April.
- New home sales increased 3.3 percent in April, according to new Commerce Department data.
- Sales of existing homes rose in April, up 10 percent from April of 2011.
- The median price of existing homes nationwide also moved up to $177,400 from $164,800. This is the biggest year-to-year gain since January, 2006.
In addition to good news in both nationwide and Brooklyn real estate, there’s also good news about the economy:
Economic growth is now projected to grow by 2.4 percent this year, up from a 2.2 percent forecast in February.
- The new job creation forecast, which is the most watched economic indicator, has also improved. The data now shows that 188,000 new jobs will be created each month this year, which is up from the 170,000 new jobs per month forecasted earlier this year.
As you can tell from this data, if you want to buy Brooklyn real estate while prices are at their lowest, you shouldn’t wait a minute longer. Give me a call today at Charles D’Alessandro Your Brooklyn real estate agent with Fillmore Real Estate a call at 718/253-9600 ext 206 or email me at [email protected].. to get started!