In a recent article printed by the Associated Press, statistics showed that home sales on new homes hit a five-year high during the month of May. The Department of Commerce tracks these figures, and claims that May saw a 2.1 percent increase when compared to statistics for April. This was an incredible 29 percent increase over the same month only one year ago.

The seasonally adjusted numbers showed annual sales of around 476,000 homes. This is the highest number since July 2008. Although there was an increase, the number is still below what economists consider healthy for the economy. Nonetheless, this means that the housing market may finally be on the upswing.

CNN reports that the S & P/Case-Shiller Home Price Indices improved by 12.1% in April. The S & P Indices are the leading method of measuring residential real estate prices in the United States. National figures as well as those from 20 different metropolitan regions are compiled when making these calculations. As such, an increase here serves as proof that housing prices are indeed continuing to increase.

The fact that home prices are increasing along with mortgage rates that have slightly increased could have spurred a number of buyers into action. Many who had been waiting for the so-called “right time” to buy have realized that they had better act soon in order to snatch up prime real estate with historically low-monthly payments attached.

Buyers also seem encouraged by the fact that foreclosures are down over one year ago. This is giving consumers peace of mind because they do not have to worry about whether or not the previous owners took good care of an available property. New home construction is also up, which means that potential homeowners also realize they have more choices than they would have had only a few short months ago.

The fact that home sales are up also means that more and more people are finding themselves able to qualify for a mortgage loan. Right now is still an excellent time to invest in real estate, so those who have been putting off doing so should contact a Realtor® soon to discuss their options.