The South Coast Real Estate Round-Up

Northeast Home Sales Slip 12.2% from May and 25.4% from a Year Ago

August 4th, 2010 12:50 PM by Christopher Terry

The National Association of Realtors released it's June pending home sales report showing a continued decline in pending sales since the end of the tax credit. This is the lowest level in more than a year and comes after the huge 30% drop in May. The pending homes sales index is a forward looking index since it looks at contracts signed, not closed transactions, during the month. The numbers are on par with averages seen in 2001.

NAR's cheif economist, Lawrence Yun says the pending sales index shows a "pausing situation" in home sales activity and that the weak sales in May and June will mean a continued underperforming real estate market at least through August.

The northeast region faired the worse with pending home sales tumbling 12.2 percent from May and fell 25.4 percent from June 2009 levels. The result will be inventory levels raising in relation to sales.

For homeowners looking to sell now is the time to take a close look at your home, the condition, the price and the location, as well as your competition in the market place. We have some great tools at ezhomesearch.net for preparing your home to sell and "being in the know" when it comes to knowing your competition. Or join us on our "eavesdropper" conference call and have your real estate questions answered, all anonymously, through our system.

For homebuyers the affordability index has never been better, inventory is good and interest rates are rock bottom. Providing e-z to use tools is part of our system here at ezhomesearch. Register for a Free Listingbook account and "be in the know", check out our mortgage calculators and much more.

Buying or Selling...let us know if we can help.

Posted in:General
Posted by Christopher Terry on August 4th, 2010 12:50 PM


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