Home sales hit a 5-year high in 2012 - WALB.com, South Georgia News, Weather, Sports

Home sales hit a 5-year high in 2012

ALBANY, GA (WALB) -

The housing crisis that led to so many economic problems is turning around.

Home sales hit a 5-year high last year.

The National Association of Realtors says sales reached 4.65-million, up 9.2% from 2011.

An improving economy and historic low mortgage rates are behind the increase.

Realtors say it's a great time to buy a home.

"It's certainly the best time that it's been for many years. Interest rates have gone down over the past year. They've stayed fairly stable that it criminal how cheap it is to buy a house," said Jackie Dixon with 1 Key Reality.

The inventory of available homes on the market has also dropped to the lowest point in 12 years nationwide.

 

Copyright 2013 WALB.  All rights reserved.  

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