Pinal home purchases rebound, but cooling off
Casa Grande Dispatch
U.S. and Pinal County home sales rebounded in December after new regulations had delayed the completion of purchases in November. And total sales across the country in 2015 were the most in nine years.
However, Pinal County sales have since cooled off this month.
The National Association of Realtors said Friday that sales of existing homes climbed 14.7 percent last month to a seasonally adjusted annual rate of 5.46 million. Sales had previously plummeted as the industry adapted to new mortgage disclosure rules — a temporary downturn before delayed sales were finalized in December.
Last month’s rebound capped a year that produced the highest annual sales total since 2006. Steady job growth and low mortgages drew more buyers into the market, causing both sales and prices to climb steadily.
