More consumers likely to be in market for homeowners insurance
More consumers may find themselves in the market for home insurance now that falling prices and other factors are bringing life back to the real estate sector.More consumers may find themselves in the market for home insurance now that falling prices and other factors are bringing life back to the real estate sector.
A report from the Commerce Department this week showed that sales of single family houses increased 11 percent last month to 384,000 homes.
According to an Associated Press report, this was the strongest increase since December 2000 and the third consecutive month of rising sales. The AP also noted that the median sales price was $206,200, down about 12 percent from last year's figures and down 6 percent from May.
One factor that has more people trying their luck in the real estate sector is a foreclosure rate that has put a large number of reduced-cost homes on the market. As home prices have continued to fall, rates have become increasingly attractive to buyers, who also benefit from factors like a recent federal tax credit.
A report on the Los Angeles Times website describes another mortgage feature that may attract even more people to consider buying houses. The newspaper reports that the federal government is currently weighing several options that would make mortgages easier to get for people who plan to make energy upgrades to their new homes.
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Posted: July 27, 2009
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