Factoids

The Housing Market through the Recession to TodayExisting Home Sales

September 25, 2015  by in General   

This is the first in a series of five factoids detailing the Housing Market’s recovery from the Recession and the potential for growth in both the Housing and Furniture Industries. As a whole, the Housing Market has made great strides in the last few years to recover from the Great Recession. While Existing Home Sales have surpassed pre-bust levels, Housing Starts and New Home Sales have made substantial but slower gains.

The bubble burst on Existing Home Sales in 2008 dropping 19 percent from 5 million in 2007 to 4.1 million. Since 2008, the amount of existing homes sold has increased by 25 percent up to 5.1 million in 2015 year-to-date. If the housing market stays on course this year, Existing Home Sales will finally surpass 2007 levels.

Although there has been a lot of fluctuation month to month over the past 3.5 years, purchasing of existing homes has increased 22.5 percent since January 2012. Sales tend to be higher in the summer and jumped 9.6 percent June 2015 from the previous June.

^{Source: U.S. Census Bureau}

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FastFact: Housing Bounce Back Continueshttp://furniturecore.com/HFBusiness/HFBNow/ArticleID/13262/fastfact-housing-bounce-back-continues.aspx