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Better Homes & Gardens Real Estate CEO Sherry Chris weighs in on the state of the housing market.
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There well existing home sales climbing at their fastest pace in three years up almost 6% to five million homes sold last month.
Our next guest says these numbers not only solid right now the proof of the recovery in the overall real estate market Better Homes and Gardens real estate CEO Sherry Chris.
Is back with more good news.
You -- these numbers and your very -- about real estate right now.
Housing starts becoming in down 3% yesterday.
Worried about that wrinkle -- all are -- -- positive.
Well you know housing starts that was a little bit of a surprise -- starts down 3% but when we look at the numbers today of course.
One of the caveats of the numbers today is the fact that.
That's inventory is low and there's -- under five months' supply so that could bring housing starts up in the months to come.
717.
Consecutive months of sales gains in housing and month over month price gains as while -- we're saying inventory going down prices going up.
It but what about financing this always comes up every time we talk about -- are the banks getting better about lending.
Well there's no real change since the last time we talked Cheryl.
And of course that is -- thing that.
We're conscious of each and every day with every client that we.
That we deal -- but when we look at mortgage rates being as low as they are prices going up.
Those are great indicators you know it.
You know now we're at the point now that a business -- we're looking at all -- stocks have performed well over the year number one stock in the S&P 500 so far for 2012.
It's faulty home -- surprise you.
-- really it again I'll go back to the fact that there's a shortage of listings out there so that's going to bring.
The the new home construction numbers potentially up in the months to -- -- up.
A 195%.
-- -- sex in all of the -- something -- that you did I think is very thing you did data used studied.
Gen Y gen X combined that's about 75 million Americans.
And what you found his turns out kids in their twenties aren't lazy they do want to -- a lot of buy homes they do wanna save money for homes about surprise -- was not gonna no surprise -- a little -- -- It's a -- you know very pleasant way and what our survey out told us was that.
These young adults in the eighteen to 34 year old range are responsible adults they value homeownership.
In almost 40% of them told asked if they wanna buy a home.
In the next three to five years think about that 75000000.
And 40% want to buy a home that's encouraging news for our house.
It is very encouraging and also running are also telling us that sandy didn't have a huge factor related negative effect on since I was gonna as while.
Sure expressed happy new year thank you for being here great to have you -- -- sewage and reverence they could -- alright Dennis every out.
