That’s right. GOOD NEWS!
Domain Homes had a remarkable year of home sales with revenues exceeding seven million. December was one of the strongest months with 9 sales. 2011 was Domain’s first full year in the Tampa market and our customers have had great things to say about our team and the homes we build. In response to strong positive trends, we expanded our operations team, started a real estate brokerage division, hosted several successful events, sponsored events for well-known local charities, and opened a new model home in our Southtown Park community.
More Good News!
TV producers can stop showing real estate market graphs with a plunging red arrow. It seems that the temperature of the real estate market is improving and there have been newsworthy trends of stabilization and recovery.
According to the National Association of Realtors (NAR) who just released their latest pending home sales index, the housing market is strengthening.
The group that tracks every imaginable home sales metric including ‘homes under contract’ and ‘contracts cancelled’ is particularly excited about the fact that the pending home sales index was up at the end of 2011. They’re also excited that the index broke the 100 mark for only the second time since the housing bubble burst. The last time it was above 100 was when the home owner tax credit was in effect (April 2010). The fact that the index has returned to that level without any such stimulus means that the market is strengthening from a natural, organic power. Affordability, historically low interest rates and job creation are all believed to be contributing factors. With home sales picking up and prices stabilizing, many experts such as NAR Chief Economist Lawrence Yun believe that this recovery is sustainable.
The broader national economy has shown positive signs as well including the all-important jobs picture. With unemployment claims falling and new jobs being created at approximately 100,000 per month, that could provide the support needed for home sales going forward.
Finally, it seems that the housing market is heading in the right direction for 2012.