Written by: Samantha Guarderas

With recent findings we have the upmost hope for the housing market as 2012 nears its way to the end of a year that can only be synonymous with the word recovery.  The housing market for the remainder of 2012 is estimated to progress according to The San Francisco Chronicle, as home sales are escalating pointing towards recovery. Two major things to pay attention to are both pre-existing homes and new homes.

Previously owned home sales have jumped from 3.39 million in 2010 to an expected 4.55 million by the end of 2012. This jump in pre-existing home sales is significant in housing upturn considering approximately 93% of the market in the United States consists of older homes. This is a positive start to the turnaround of the market and sparks optimism for the future of the housing market.

New homes are seeing a leap in numbers as well.  May saw an increase of 7.9% in authorization of new construction making it the highest it has been since 2008. These numbers exceeded estimations made by analysts and has become a pleasant surprise, contributing to a promising future.

The latest facts have one thing in common and that’s increase. Increase is key in fueling the housing market and allowing it to flourish to its highest ability. With 2012 halfway over, there is plenty of time for this increase to further exceed expectations and continue to add to the recovery process.