EAU CLAIRE, WIS (WEAU)--Is it a sign of an improving economy? The number of people buying homes is higher than it’s been in more than two years.
The national association of realtors says sales of previously occupied homes rose 7.8 percent in the month of August. That’s the most since May of 2010 when home sales were fueled by a federal home-buying tax credit.
The news comes the same day as U.S homebuilders report breaking ground on more new homes
“Low to middle price homes are selling as quickly as weeks,” said David Fitzgerald.
David Fitzgerald with Northwest Wisconsin Realtor Association says the housing market in our area is strengthening.
We probably hit bottom in the market last year and now we are seeing moderate price gains and those gains will be a prelude to more significant gains in 2013/2014," said Fitzgerald.
He says mortgage rates are at record low and housing prices are staying low making it a great time to be a buyer.
“There are a lot of good values out there,” said Fitzgerald.
He says right now the area that has seen the greatest recovery is the market for low to middle priced homes
"The market typically moves from bottom to top so its important to get first time home buyer because they are going to buy entry level homes and as that strengthens we will see people who currently live in low to medium market homes will move up," said Fitzgerald.