Source: National Association of REALTORS
Link to Release:
Analysis: The growth in existing home sales and shrinking supply is a positive sign for the US economy. Similar to Canada, each resale home transaction results in substantial spin-offs to other sectors of the economy related to housing (financial services, home improvement etc.). The combination of shrinking supply and increasing sales also bodes well for renewed home price growth moving through 2010, which will serve bolster US consumer confidence.
This is important, given that consumer spending accounts for over 70 per cent of US GDP and is also the driver of US trade with other countries like Canada.
I hope this finds you Happy and Healthy!
All the Best!
A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate
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