New York Commercial Real Estate Values

Home Sales: Nationwide Numbers For April

Home Sales - "The National Association of Realtors said on Thursday existing home sales increased 1.3 percent to an annual rate of 4.65 million units, marking the second increase in sales in nine months." ...

Home Sales:
Nationwide Numbers For April

Home Sales | San Gabriel Valley Real Estate | Brion Costa

Summer "Selling Season" Is On The Way

We focus in these pages almost exclusively on the Southern California real estate market, and most specifically the San Gabriel Valley. However, once in a while it can be constructive to take a step back and look at the bigger picture.

Nationally, the real estate market is looking solid. US Home Sales were up in April for the 2nd time in 9 months. The gains have not been as much as some economists were predicting, but it's still positive movement. That's important when you consider that the market was actually exhibiting some fairly shakey behavior during the second half of last year.

Sales are still down when compared to this time last year, and it appears that most "First Time Buyers" are sitting out the dance because of high home loan prices and the rising price of homes themselves.

Here's a Reuters report with the detailed numbers that just appeared at NBC News:

Home Resales Rebound As Winter Retreats - NBC News

NBC News May 22nd 2014, 7:42 am
Though an usually cold winter depressed activity, a dearth of homes for sale also stymied demand. Sales are expected to gradually trend higher for the rest of 2014 as job growth and the overall economy accelerate. ... And there is reason to be optimistic. The inventory of unsold homes on the market increased 6.5 percent from a year-ago and the median home price increased at its slowest pace since March 2012.
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2014 Home Sales Forecasts Are Optimistic

Nationwide, the supply of homes has grown, which will probably serve to free up demand somewhat. A larger inventory will create pressure that could keep rising prices in check and lead to a more balanced market. All in all, the national numbers are encouraging. If unemployment continues downwards and the general economy continues to improve, we could see some good home sales numbers posted by year's end.

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