TRAVERSE CITY, MI -- Have you started shopping for a new home? If so, you're not alone.
Many realtors are reporting increases in home sales over the last few months.
These trends are not just local.
We spoke with Executive Vice President for Traverse Area Association of Realtors, Kimberly Pontius, who said, "We're very optimistic for 2011." He expects a very strong market for existing and new home sales due in part to the creation of new jobs as well as continued low interest rates.
But the TAAR is reporting even better numbers than the National average.
Pontius also said, "Well, what we see, nationally, there's a seasonally adjusted rate of 3.5% increase in existing home sales that's occurred in 2010 over 2009. Locally, our rate's about 3.9%. So we're a little bit ahead of the national average here in the Grand Traverse region."
In fact, 2010 marks the most homes sold in the Grand Traverse area since 2006.
Average selling price has also increased by over $10,000.
TAAR servs Grand Traverse, Leelanau, Benzie, Antrim and Kalkaska counties.
