“According to the National Association of REALTORS®, February existing-home sales and prices affirm a healthy recovery is underway in the housing sector. Sales have been above year-ago levels for 20 consecutive months, while prices show 12 consecutive months of year-over-year price increases. Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, increased 0.8 percent to a seasonally adjusted annual rate of 4.98 million in February from an upwardly revised 4.94 million in January, and are 10.2 percent above the 4.52 million-unit level seen in February 2012.  February sales were at the highest level since the tax cedit period of 2009.”

These statistics bode well for our market in the Virgin Islands as we generally have a one year lag behind markets in the States.