KW Real Estate Market Update: New Numbers on the Real Estate Front!
Keller Williams Realty Real Estate Market Update:
New Numbers on the Real Estate Front!
Although experts predict it will take time for the economy to fully recover, there has been a lot of encouraging news recently. Last week, The National Association of REALTORS® reported that existing home sales – which include single-family, townhomes, condominiums and co-ops – increased 3.6 percent to a seasonally adjusted annual rate of 4.89 million units in June.
This is third consecutive month that NAR has reported an increase in existing home sales. Lawrence Yun, NAR’s chief economist, added that “We expect a gradual uptrend in sales to continue due to tax-credit incentives and historically high affordability conditions.”
Here are a few points to share with your clients:
• The percentage of first-time buyers dipped to 29 percent as a result of more repeat buyers entering the market, suggesting signs of a return to a more balanced market.
• Americans have shifted into savings and are now putting away a larger portion of their income – so much that the U.S. savings rate has now surpassed that of Canada!
• Home prices edged up almost 4 percent between May and June of 2009, due to repeat buyers purchasing at higher price points, and distressed properties accounting for a smaller percentage of sales (33 percent of sales, compared to 45 percent the month before).
Get all this information and more in the free This Month in Real Estate PowerPoint Reports.
If first-time homebuyers want to take advantage of the tax-credit, they need to act now. Start the discussion with a copy of Your First Home: The Proven Path to Ownership. Download the Your First Home discussion guide and hold a first-time homebuyer seminar in your market.
Become a fan of the Your First Home Facebook page and join the conversation!
Related Posts:
Gary Keller’s ‘Your First Home’ Book – Free Download of Customizable First-Time Buyer Presentation
This Month in Real Estate Video Report for Canada – July 2009
This Month In Real Estate Video Report: July 2009 – U.S. Market
This Month in Real Estate June 2009 Video Report
This Month in Real Estate June 2009 Power Point Presentations for U.S. and Canada Markets
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