AP-(National Association of Realtors)
National housing indicators are being led by strong regional markets experiencing key growth, as seller supply begins to respond to consumer demand mirroring on a micro scale, indicating a slower but steady national trend towards sustainable market recovery. As the spring homebuying season transitions into summer, some regions across the nation are seeing month-over-month inventories replenishing above usual seasonal patterns as sellers begin to respond to pent up demand. Many previously "hot" regional markets such as Sacramento and Stockton in California are in the process of balancing out, as surges in month-over-month listings begin to replenish depleted inventories.
In the U.S., May 2013 inventories rose by 5.82 percent over April 2013 and median list prices were 2.10 percent higher than April prices. Last year, realtor.com reported a 1.77 percent increase in inventory from April 2012 to May 2012 and a 0.48 percent increase in median list prices over April 2012. The May 2013 month-over-month increase in inventory signals the beginning of a less volatile market and a greater balance between supply and demand. In fact, this surge in inventory has spread to some East Coast markets including Daytona Beach, FL and Washington, D.C., whose inventories rose 21.97 percent and 12.64 percent respectively, month-over-month.
According to the National Association of Realtors Chief Economist Lawrence Yun, the US Housing Market will get a shot in the arm in 2012 with home sales expected to rise 7-12% from 2011.
Lawrence Yun, NAR chief economist, said were seeing the continuation of an uneven but higher sales pattern. The spring home buying season looks bright because of an elevated level of contract offers so far this year, he said. If activity is sustained near present levels, existing-home sales will see their best performance in five years. Based on all of the factors in the current market, thats what were expecting with sales rising 7 to 10 percent in 2012.
Locally, our housing market has seen inventories cut in half and an increase in home sales of 20% for the entire RANWW MLS as of April 17th, 2012. We are seeing the market of 2007 again and it is long overdue!
Are squeaky floors holding you back from selling your house? Do you want to avoid paying a contractor to fix them? Check out this helpful article
from the Wall Street Journal.
The Home Team
I was just reading a helpful article
on USA Today which offered five tips for selling your home in the winter time. Simple yet effective actions will help you to sell your home even during this slow season. From keeping up on needed maintenance, staging your home to look especially warm and inviting and keeping your sidewalk neatly shoveled, to making sure the lighting in your home makes your rooms look bright and cheery and decorating tastefully for the holidays. And nothing can beat the smell of fresh baked cookies when a potential buyer walks through your door for the first time!
The Home Team
A Wall Street Journal article written on August 3rd begins, "The number of homes listed for sale declined sharply in a number of U.S. cities during the second quarter, offering glimmers of hope that some housing markets are starting to recover." To read the full article click here
The Home Team
Read more at our blog »