Housing sales of previously occupied homes rose in January to the highest rate in nearly 2 years. Causing many experts to speculate that the worst is behind us.
Beazer Homes USA Inc. (BZH) reported that orders jumped 36 percent in the final three months of 2011 from a year earlier, and closings on new houses surged more than 60 percent. The Atlanta-based builder said it expects to sell more properties this year than last.
?While our visibility into the economic conditions for the remainder of the year is limited, I believe that we will benefit from a gradually improving housing market,? Allan Merrill, chief executive officer, said on an
Image by Getty Images via @daylife
earnings call on Feb. 2.
Purchases rose in all four U.S. regions, led by an 8.8 percent gain in the West and a 3.5 percent increase in the South.
Inventories are the lowest in years as the number of previously owned homes on the market dropped to 2.31 million, the fewest since March 2005. At this? sales rate, it would take 6.1 months to sell those houses, the lowest since April 2006.
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Source: http://www.positiveonrealestate.com/pr/1115
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