Mortgage Monday: Housing Market Improving

Housing Market Improving.

The housing market is showing signs of improving while supplies of existing homes is getting tight. The National Association of Realtors recently released data that shows several housing markets improving year over year. Miami, Florida saw an increase in the average home price increase 10.1 percent to $177,400.

The South King County, Washington area housing market is showing signs of recovery as well. The supply of existing homes on the market has dropped from 514 in May of 2011 down to 283 in May of this year. Home sales increased from 73 in May of 2011 to 96 or an increase of 31.5%. The buyers that were waiting for the economy to improve have begun to purchase homes.

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