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Some Year End Statistics on Real Estate

By
Real Estate Agent with Babbitt Realty NYS# 30BA0740535

Just saw some statistics for the past couple of months that I wanted to share with you.

Existing home sales rose 5.6% in November to a seasonally adjusted annual rate of 4.68 million units from 4.43 million units in October. The inventory of unsold homes on the market declined 4% to 3.71 million, a 9.5-month supply at the current sales pace, down from a 10.5-month supply in October.

This is good news for the real estate industry.  It means better prices with a shorter days on the market.

December stats will be out in January and hopefully they will be good too.

How do your local stats compare with these national ones?

Gary L. Waters Broker Associate, Bucci Realty
Bucci Realty, Inc. - Melbourne, FL
Eighteen Years Experience in Brevard County

The only thing that can throw a monkey wrench in the market - more foreclosures and they are coming!

Dec 27, 2010 01:33 AM
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

I'm hoping tho that we've seen the worst(2008-2010) and each year from here will get better !!!!!

Dec 27, 2010 01:35 AM
Norma Toering Broker for Palos Verdes and Beach Cities
Charlemagne International Properties - Rancho Palos Verdes, CA
Palos Verdes Luxury Homes in L.A.

My local numbers are much different than the national ones--our inventory is low, sales are up but prices are down so sellers are in no rush to add to the inventory.

Dec 27, 2010 01:42 AM
Steve Babbitt
Babbitt Realty - Penfield, NY
Past President of the Rochester Realtors

Michael, I'm with you on hoping we have seen the worse of it!  for me personally, 2008 was a down year in sales from my best year in 2006 with 75 sales!

Dec 27, 2010 03:18 AM
Steve Babbitt
Babbitt Realty - Penfield, NY
Past President of the Rochester Realtors

Gary, I have heard some staggering numbers about foreclosures that the banks haven't acted on, and you are right about it affecting our markets bigtime!

Dec 27, 2010 03:19 AM
Steve Babbitt
Babbitt Realty - Penfield, NY
Past President of the Rochester Realtors

Norma, I would say the same thing about our local market being different than the national market.  Our inventory is up, and the buyers are few!  Surprisingly, the prices are about the same.

Dec 27, 2010 03:21 AM