Finding Your Knoxville Real Estate Deal Part 2 yesterday we talked about finding your deal. Now we are going to cover what you need to don once you have found your deal. Let’s assume you found… read more →
Sales of existing homes in recovered in August, perhaps the result of a post-tax credit normalization.
Although new home inventory actually dropped 2,000 units in July, the slowing sales pace still managed to push the national supply higher by 1.1 months. At July’s rate of sales, the nation’s new home inventory would be exhausted in just about 9 months.
Consistent with most post-home buyer tax credit housing news, Existing Home Sales eased lower last month. The 5 percent drop in sales was expected, but a closer look at the month’s data reveals some interesting trends.
The press is referring to the May New Home Sales report as “poor”. A closer look, however, shows that may not be the case.
The press is calling the May 2010 drop in Existing Home Sales “unexpected” and disappointing, but a deeper look at the data shows the news isn’t as bad as it first appears.
April marks the third straight month that pending home sales are up and today’s buyers should take note. This is because, according to the National Association of RealtorsÂ®, 80% of homes under contract close within 60 days.
According to the National Association of RealtorsÂ®, although the number of homes sold ticked higher in April, so did the supply of existing homes for sale, too. Sellers are now listing homes faster than buyers can buy them.
Existing Home Sales rose in March, as expected. U.S. homebuyers closed on 7 percent more homes as compared to February.