Latest Statistics on Real Estate Home Sales
June 25th, 2009

So how are Home Sales you ask? I don't think that this is going to surprise anyone, but the housing market sucks. Despite the latest statistics that we released that house sales have gone up 2.9%.

Here are some other statistics that they are not telling you about home sales:

• Of the existing homes sold last month, 51.1 percent were properties that had been foreclosed on. A year ago it was 39.8 percent.
• Indicators of market distress continue to move in different directions. Foreclosure activity is nearing its 2008 peak, while financing with adjustable-rate mortgages is at an all-time low, as is financing with multiple mortgages.

Sure, many cities and states have seen a small decrease in the number of foreclosures between April and May 2009. These cities include Las Vegas (8.33 percent), Phoenix (2.28 percent), Atlanta (2.03 percent), Detroit (1.02 percent), Miami (6.10 percent), and Denver (7.56 percent). California, Georgia,Texas, Nevada, and Colorado have all seen their statewide numbers of foreclosures decrease by only 5 percent or less. This is big news and sounds great only because most of these states have seen gains in foreclosures every month for at least a year. A month or two of 5% percent less sounds great, but is it going to last?

Even though these states that have been seeing foreclosures sore and they are doing no more than "stabilizing" shouldn't and doesn't mean this housing crash is over or even near over. Lets take a look at some other states that are getting worse:

• Chicago increased by nearly 13 percent
• Minneapolis increased by almost 10 percent
• North Las Vegas saw an increase of over 6 percent
• Memphis jumped by over 31 percent
• Illinois increase by 6.62 percent
• Nevada saw statewide increases of 4.65 percent
• Florida, Ohio, and Michigan each saw increases of around 1 percent.

While these state increases may not appear to be an overwhelming disaster, but these states have already seen large numbers of property foreclosures and the situation does not seem to be drawing to a close if these most recent figures are any indication.

No matter what your situation is, if you need to sell your house fast in this market it doesn't seem like it is helping you any. With new home buyers are going after newer homes with more incentives, making it very difficult to move older properties.

We Buy Houses in 1 week have been helping homeowners buy buying their homes fast in all markets. If you have a home that you need to sell please contact us today and complete our home selling questionnaire to see if your house qualifies for our fast home purchase program.

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