The Philadelphia-area housing market continued to gain strength as the number of houses sold increased and the number of days a residential property lingered on the market before selling declined during the first nine months of the year, according to a report by Prudential Fox & Roach.
Sales throughout the region reached their highest rates since 2010 and each of the 12 counties in the metropolitan region saw a boost in the number of houses sold compared with the same period a year ago, according to the real estate company’s HomExpert Market Report. Sales throughout the region rose by 14.2 percent compared to the first nine months of 2011.
“The Q3 data suggests the housing market is at its best in the last three years,” said Steve Storti, senior vice president of marketing at Prudential Fox & Roach. “With a recovering economy and mortgage rates at historic lows, homebuyers were able to take advantage of a superb buying atmosphere in the past nine months.”
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