Courtesy of timandjulieharris.com

Courtesy of timandjulieharris.com

There is good news on the horizon for the housing market as of December. Statistics are starting to turn around as the country sees increased sales and home prices. According to Trulia, 22% of homes currently on the market in the US have experienced at least one price cut, the lowest percentage since Trulia began tracking reductions in April of 2009. Additionally, the total amount of reductions off home prices fell $28.1 billion in November to $24.7 billion in December. This represents a 12% decrease in the overall amount home prices are being reduced.  Another hopeful sign is that the number of listings on Trulia has decreased by 9% from the previous month, signifying an increase in home purchases.

HomeGain, a website that provides free, instant home values, also recently announced the results of its fourth quarter Home Prices Survey of Realtors, which contains the responses of 928 U.S. real estate agents and brokers.

According to the survey, 72% of Realtors have a positive outlook for the market and think prices will either remain the same (48%) or increase (24%) over the next six months.  This is an increase from third quarter results, which showed only 69% of Realtors believing that prices would stay the same (46%) or increase (23%).

There was also evidence that the first-time home buyer’s tax credit has helped spur the market by driving up sales. Twenty-one percent of Realtors surveyed said that over half of their transactions included a first-time home buyer.

All signs point to a long-anticipated recovery of the housing market.  Are you convinced the worst of the housing crash is over or do you think no one is in the clear yet?

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