Housing recovery becoming a reality

by Meridith Doucette on September 26, 2012

 

According to the U.S. Census Bureau, housing starts and permits increased significantly in August, showing the housing market is making large strides toward a full recovery.

CNN reported that builders started on new homes at an annual rate of 750,000, which was a 29.1 percent increase from a year earlier. Homebuilders have become more confident in the housing sector, with the confidence index from the National Association of Home Builders reaching its highest level since June 2006.

After recent gains, housing starts are falling behind the peak that was set in May 2005. If sales continue showing these positive numbers, it could help the country crawl out of the economic recession, which is still plaguing the housing market.

The median home price increased by 9.5 percent year-over-year to $187,400, which marks the sixth consecutive month of price increases for the first time since May 2006.

If you are looking forward to moving into a brand new home this year check out Shea Homes which is known for building high quality new homes in Arizona, California, Colorado, Florida Nevada, North and South Carolina and Washington.

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