Some Highlights: Existing Home Sales are up 9.6% over last year. Homes Sold on Average in just 34 days! Inventory now stands at a 5.0-month supply. Distressed Sales made up only 8% of all sales.
Last week, the National Association of Realtors (NAR) released their Existing Home Sales Report. The report announced that the median existing-home price in June was $236,400. That value surpasses the peak median sales price set in July 2006 ($230,400). This revelation created many headlines exclaiming that home prices had hit a “new record”: Wall Street [...]
The big housing news this week is that the homeownership rate has dropped to 63.4% which represents the lowest rate in 48 years. That news definitely is making headlines. Yet, to fully understand what this means we have to look at the story that created these headlines. There is no doubt the homeownership rate has [...]
The price of any item is determined by the supply of that item, and the market demand. The National Association of Realtors (NAR) recently released their latest Existing Home Sales Report. Inventory Levels & Demand Sales of existing homes rose 3.2% from May, outpacing year-over-year figures for the ninth consecutive month. Total unsold housing inventory [...]
As the temperature continues to rise, buyers are coming out ready to purchase their dream home. Here are five reasons that you should list your house for sale now. 1. Strong Buyer Demand Foot traffic refers to the number of people out actually physically looking at homes right now. The latest foot traffic numbers show [...]