Tag: Real estate sales

Real Estate Sales at Highest Pace in 10 Years

Sales at Highest Pace in 10 Years! [INFOGRAPHIC] | Keeping Current Matters

Highlights:

  • 45 million existing homes were sold in 2016! This is the highest mark set since 2006.
  • Inventory of existing homes for sale dropped to a 3.6-month supply, the lowest level since NAR began tracking in 1999.
  • The median price of homes sold in December was $232,200. This is the 58th consecutive month of year-over-year price gains.

7 Graphs That Show the Real Estate Market is Back

7 Graphs That Show the Real Estate Market is Back! [INFOGRAPHIC] | Keeping Current Matters

Some Highlights:

  • Distressed property sales fell to its lowest number since NAR began tracking it in 2008.
  • As you can see, with less distressed properties, sales are up in all price ranges except the $0 – $100K price range.
  • Interest rates are still at historic lows, signifying that now is the right time to buy!

Real Estate Sales Contracts Hit Highest Level in Months

The National Association of Realtors (NAR) just announced that the February Pending Home Sales Index reached its highest reading since July 2015.
What is the Pending Home Sales Index (PHSI)?

NAR’s PHSI is “a forward-looking indicator based on contract signings”. The higher the Pending Home Sales Index number, the more contracts have been signed by buyers that will soon translate to sales. February’s Index rose 3.5% month-over-month to 109.1. What does this mean for the market?

Sales Contracts Hit Highest Level in Months | Keeping Current Matters

Lawrence Yun, NAR’s Chief Economist explained:

“After some volatility this winter, the latest data is encouraging in that a decent number of buyers signed contracts last month, lured by mortgage rates dipping to their lowest levels in nearly a year and a modest, seasonal uptick in inventory.”

“Looking ahead, the key for sustained momentum and more sales than last spring is a continuous stream of new listings quickly replacing what’s being scooped up by a growing pool of buyers. Without adequate supply, sales will likely plateau.”