Realtors’ report more bad news for sellers
Homeowners with “For Sale” signs in their front yards can tell you everything you need to know about the residential real estate market: It’s tough to move a home.
The latest report on existing-home sales from the National Association of Realtors will tell you the same thing.
Total existing-home sales, which includes single-family residences, townhouses, condominium units and co-ops, fell 8 percent in September. Real estate agents are now on pace to sell 5.04 million residential units this year.
That sounds like a lot. But sales of existing homes are down 19.1 percent from where they stood in September of 2006.
Are there any silver linings in this report for home sellers? Can they at least still fetch high prices for their single-family homes?
That depends on what you consider high. The national median existing-home sales price for all housing types stood at $211,700 in September. That’s not bad, but that figure is lower than it was a year ago. In September of 2006, the median was $220,900.
So, no, if you’re a seller, the report doesn’t offer much in the way of hope.
Tags: existing-home-sales, median-housing-price, NARRelated Stories
POSTED IN: Breaking News, Educational Tools, Insights and Commentaries, Real Life Stories, Road to Profits, Selling a Property
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