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Economists Say Sales, Not Home Prices Deciding Factor

Economists say the Clovis Real Estate market is starting to heal, but most people aren’t aware of it because they’re  judging the Clovis housing recovery by the wrong sign.

Why Clovis Homes Sales matter more than Clovis Home Prices

Economics say higher home prices won’t be the sign that the housing market is on the mend because home prices typically lag behind the actual recovery.  Instead, an increase in overall Clovis home sales is a more telling indicator.

Nationwide, existing home sales in 2011 rose compared to 2010. In the last six months alone, home sales have increased 13%.  In Clovis, at this date from 2010 – 2011  1,438 Clovis homes were sold.  A year later, 1,554 Clovis homes have been sold.  While the number of home sales will go up and down each month, the overall trend is upward — a great sign for the Clovis real estate market.

This entry was posted on Friday, March 23rd, 2012 at 2:58 PM and is filed under Clovis Real Estate News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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