The president of the National Association of Realtors (NAR), Moe Veissi, says that demand for houses is high, and as the job market improves, the housing market will follow suit. Right now the problem is not the lack of desire, but the lack of financial stability. As more people are able to secure stable jobs, the housing situation will return to normal. He says that as the housing market levels out, it will improve the overall economy as well. Home ownership tends to encourage spending on complimentary items and services.Signs that this is occurring include the 5% rise in existing-home sales seen in December 2011. This statistic, that measures most types of homes, is up almost 4% from December 2010....

The NAR chief economist takes this to be a sign of market stabilization. He says that the combination of low interest rates, increased job creation, and cheap homes are providing a housing market that is too attractive for many potential buyers to ignore. Interest rate averages for a 30 year mortgage were slightly less than 4% in December 2011, near 1% lower than one year prior. For those who can afford it, this is one of the most rewarding times to invest in real estate.More good news for the housing market, especially for prospective sellers, is that the overall housing inventory is decreasing. In December it reached a national average of about a 6-month supply, about a month less....

than in November A shorter supply of homes on the market is good news because it signals that they housing market is beginning to balance out, allowing sellers fairer prices for their homes. It also signals that buyers are becoming more confident and are becoming willing to spend more for their future home.All regions of the United States experienced growth in existing-home sales in December, but the Northeast and Midwest gained the most. In the Northeast sales rose almost 11% in December, leaving them about 3% higher than December 2010. The Midwest saw an increase of roughly 8%, bringing them to more than 9% above December 2010.The South, including Asheville real estate, and the West...

both experienced a growth of about 3%, putting them both slightly ahead of where they were last year.Condominium sales saw the highest monthly growth in existing-home sales, near 9%, but still remain slightly lower than they were a last year. Home sales for single family homes increased about half as much as condominiums, but are now about 4.5% higher than one year ago.Real estate prices across the nation have declined slightly since last year, though distressed home sales have accounted for less of sales than they did in December 2010. However, the NAR reports that distressed homes were sold at higher discounts at the end of 2011 than they were in 2010. Even though a smaller percentage...

of sales resulted from distressed homes, the increased sell-price discount likely had an impact on the average price of homes.Information gathered from the National Association of Realtors