Following a less than stellar performance in 2014, home purchases rose in the first part of the new year.
June 24, 2015
According to the Wall Street Journal, there was a 24 percent increase in the number of new homes sold through May 2015, rising 233,000 to 546,000 homes.
While March, April, and May are typically home buying season for many, the rebound was reportedly a long time coming as construction levels also rose.
The housing recovery since 2011 has remained on a roller coaster since 2011. The Wall Street Journal stated that builders still have a lot to make up for as the market’s pace of sales in May is approximately 75 percent of the average annual pace from 2000 to 2014.