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Home Inventories Plummet, Foreshadowing Higher Prices By Spring 2010
Home resales are soaring.
For the 4th consecutive month, the Existing Home Sales report revealed what today's buyers and sellers already know -- there's a lot of buyer activity right now.
Existing Home Sales surged 7-plus percent in November, posting its largest number of recorded sales in 33 months.  Sales volume is up 44% higher versus last year.
It's another example of the housing market in recovery.
There were other interesting statistics buried in the November data, too.  According to the National Association of Realtors:
51 percent of home buyers were first-timers Distressed properties accounted for one-third of all sales The median home sale price rose slightly But of all the stats from the November Existing Home Sales report, perhaps the most important one is......
Read the COMPLETE BLOG POST HERE:
Home Inventories Plummet, Foreshadowing Higher Prices By Spring 2010
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Chris is Florida's #1 FHA Mortgage Broker and a syndicated mortgage blogger. He is regular contributor to the three leading industry blog-fronts including The Mortgage Chili Blog, My FHA Mortgage Blog, Top of Mind Networks, the newest contributor to Lenderama and recently featured on Fox35 News.
Chris can be found at Orlando FHA Loans, Chris[at]OrlandoMortgagePro[dot]com, or by calling 407.377.0500 ... more

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