Property sales up in the us and building sector confidence increases

Residential property sales in the United States edged upwards for the seventh month in a row in January, according to the latest RE/MAX national housing report.

It shows that real estate sales are now 3.4% above levels seen a year earlier in the 53 metropolitan areas covered by the survey.

In January, the median price of homes sold in the 53 metros was $129,306, only 0.8% lower than a year earlier and a 3.4% drop from December.

Perhaps due to falling foreclosure numbers, for the 19th consecutive month, inventory levels dropped in January. The average inventory of homes for sale dropped 24.1% from a year earlier and 4.2% from December.

Source: PropertyWire.com