Intellectual Centre Debt Law Marketing

Analysts point to the recent rise in new home construction and sales as an indicator that the housing market is making a positive recovery from the mortgage crisis, however, closer examination reveals that a complete recovery is not in effect.

New Home Sales

One area of the real estate market experiencing positive growth during 2010 is new home purchases. As the mortgage crisis heightened throughout 2009, new home sales experienced a dramatic drop off, leaving many newly constructed neighborhoods standing vacant and unfinished. As banks tightened their loan lending criteria and lowered the dollar amount on approved loans, high priced new homes began to sink rapidly into bankruptcy.

New home sales have begun to experience a slight recovery boasting sales in April 2010 that rose almost 15% over new home sales in March 2010. This increase represents one of the largest in new home growth since the real estate market leveled out in late 2009. Overall, new home sales during the first quarter of 2010 are up 47% over first quarter new home sales of 2009.

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