Demand for Home Insurance Policies May be Picking Up

A growing number of consumers will find themselves in the market for home insurance policies in the coming months, with recent statistics continuing to show sales improvements.

For example, the National Association of Realtors announced this week that existing home sales were up 11.4 percent in the third quarter of this year.

Total sales for the quarter were said to be 5.3 million units, with 45 states having seen increases in that time period. Year-over-year sales also increased last quarter in 32 states plus the District of Columbia, with double digit growth occurring in 28 of those states.

"The buying conditions this year are the most favorable on record dating back to 1970, but the tax credit is allowing buyers to set aside any reservations about waiting for a better deal," said NAR chief economist Lawrence Yun.

Elsewhere, a recent survey from real estate website Move.com found that 12.1 percent of prospective homebuyers are now planning on acquiring properties as an investment, up from 5.6 percent seven months ago. This suggests that a larger number of consumers see the home market as having hit bottom, providing a more favorable climate for the industry in the longer term.