Home sales and prices confirm that a healthy recovery is continuing in the national housing market: sales have been above year-ago levels for 20 consecutive months, while prices have experienced 12 consecutive months of year-over-year gains.
"Even with rising home prices," states NAR President Gary Thomas, "affordability remains historically favorable because home prices over corrected during the downturn. This means there is still great value for buyers in the current market."
With a positive outlook on a recovering housing market and mortgage rates at historically low rates, now marks one of the most favorable times in history to buy or sell a home.
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