The Wells Team of realtors Joe and Rita Wells cited stats that showed new single-family homes enjoying record-sales since 2007. The firm said that the improving economy should further fuel the expansion of the real estate market in the United States.

“We’ve seen around half a million new homes sold last year, which was the highest annual figure that the U.S. real estate market has seen in the past eight years. That’s an encouraging sign for the market, especially with the strong showing that the industry had in December 2015,” the firm explained in a statement.

The Wells echoed the observation of many real estate experts who have said that increased demand from homebuyers and increasing confidence of homebuilders will further fuel the growth of the sector.

“People are buying houses because the economy has been improving. With the economy in good shape, Americans are looking to buy properties,” the husband-and-wife tandem added.

It added that one of the states which performed creditably was Utah, which posted an increase of 7 percent in sales and 3 percent growth in average sales price. The Wells team advises property buyers or sellers in the state to engage the services of a real estate attorney in Salt Lake City, or a real estate attorney in Murray to help them in sealing their transactions.

The Wells Team believes that attorneys real estate will be in demand this year given the expected growth of the market.

“The positive performance of the market last year reflects a very steady increase in demand from home buyers. It also shows that the US economy has become stable to the point that couples and even single Americans are looking to buy their own properties. We’re looking forward to a robust performance in 2016,” it ended.

About The Wells Team

The Wells Team of Joe and Rita Wells have more than 30 years of experience in real estate brokerage in Delaware, particularly the greater Milford area. For more information please visit wellsrealtylaw.com