2006 3rd Quarter NAR Report Shows National Home Sales Falling
In an article and press release just put out by the NAR, statistics confirm a turn around in the market. In other words, this report simply confirmed what everyone knew already... that we have transitioned into a buyer's market.Here are some National statistics from the article:
- Total Home Sales are down 12.7%
- Median sales price for single family homes are down 1.2%
The NAR's chief economist had this to say:
"David Lereah, NAR’s chief economist, said market conditions are nearly the opposite of a year ago. “Last year we had a record sales market and historically tight supplies of homes with buyers bidding over the asking price,” he said. “With the market in full transition, buyers now have choices and sellers are more willing to negotiate – under these circumstances it’s no surprise that overall home prices are slightly below a year ago. We expect this trend to continue in the months ahead, but we’ll see modest appreciation in most of the country in 2007.”
posted by Justin Smith @ 11/20/2006 01:36:00 PM
3 Comments:
It sure is a buyers market. I found that out when I had several listings that were not moving. My sellers were getting very impatient. I was searching around trying to find a marketing tool I could use. Here is one I have tried with a lot of success.
www.smartstreets.net
The have a great tool reasonably priced and right now they are offering a free trial with your first listing. Check them out and give it a try.
NAR might have been a bit slow to call this one.
Real estate is a local business. Here in St. Paul, MN we are not seeing home depreciation but things are still slow. The November numbers for our office are looking better but most of us in the filed ate not experiencing an up tick yet.
Post a Comment
<< Home