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Am I hearing things...

By
Real Estate Agent with Baird & Warner Downers Grove

or did home sales increase in February?  Finally some good news for our industry!

An unexpected increase of homes sales was recorded in February 2008, which was the 1st time in a year. This news had economists surprised as they were expecting a small decrease.  The National Association of Realtors said that existing home sales rose by 2.9%. to an adjusted annual rate of 5.03 million units.

Analysts are also cautioning us not to read too much into this information. They are not expecting a notable gain in homes sales until the 2nd half of this year but they said that February's rise was another sign that the market was stabilizing.  The Northeast saw a rise in sales of 11.3%, the Midwest saw a rise of 2.5% and the South saw a rise of 2.1%.  The only area that saw a decrease of 1.1% was the West. 

Here's to a wonderful Spring Market!

Comments (5)

Chip Jefferson
Gibbs Realty and Auction Company - Columbia, SC
Lets hope it continues to rise!
Mar 24, 2008 08:20 AM
BLR Guy
BLRGUY(Beach & Luxury Realty Inc) - Saint Pete Beach, FL

Laura..You did hear that correctly!I heard it earlier and have been calling everybody I can think of!

That is just wonderful!

Mar 24, 2008 08:23 AM
Bill Gillhespy
16 Sunview Blvd - Fort Myers Beach, FL
Fort Myers Beach Realtor, Fort Myers Beach Agent - Homes & Condos
Laura,  Cross your fingers and toes.  Maybe this will signal the beginning of a return to a normal market.
Mar 24, 2008 08:28 AM
Jane Wallace
HomeSmart Realty - Denver, CO
CRS | SRES, Denver Real Estate

Finally,

Something Positive...

Mar 24, 2008 08:43 AM
Laura Moore Godek
Laura Moore Godek, PC - McHenry, IL
I hope the numbers are just as good for March, and April and...
Mar 30, 2008 02:43 PM