A common notion about today’s market is that homes aren’t selling. We are here to tell you that is not true! According to last month’s National Association of Realtor’s Existing Sales Report, homes were selling at a yearly rate of 5.10 million! That averages out to be 13,973 homes per day!
The National Association of Realtor’s chief economist, Lawrence Yun, says that in accordance with their Pending Sales Report (homes under contract), there has been an increase in 6 out of the past 9 months.
“Since reaching a cyclical bottom last June, pending home sales have posted an overall gain of 24 percent and demonstrate the market is recovering on its own. The index means modest near-term gains in existing home sales are likely.”
The facts do count from 40% of distressed property sales and 22% being sold to investors, but 60% are NOT foreclosures or short sales! This proves that homes are selling!
Yun also says that he believes existing-home sales should rise around 5 to 10 percent this year.
If you price you home wisely and competitively, you have a great chance of getting it sold!