general market information: February Existing Home Sales Down - 04/02/11 01:29 PM
Existing-home sales fell in February following three straight monthly increases, according to the National Association of REALTORS®.
Existing-home sales dropped 9.6 percent to a seasonally adjusted annual rate of 4.88 million in February from an upwardly revised 5.40 million in January, and are 2.8 percent below the 5.02 million pace in February 2010.
"Housing affordability conditions have been at record levels and the economy has been improving, but home sales are being constrained by the twin problems of unnecessarily tight credit, and a measurable level of contract cancellations from some appraisals not supporting prices negotiated between buyers and sellers," said NAR … (1 comments)

general market information: Home Sales Slow but Remain Above Year-Ago Levels - 07/30/10 07:34 PM
With the scheduled closing deadline for the home buyer tax credits, existing-home sales slowed in June but remained at relatively elevated levels, according to the National Association of Realtors®.Existing-home sales, which are completed transactions that include single-family, townhomes, condominiums and co-ops, fell 5.1 percent to a seasonally adjusted annual rate of 5.37 million units in June from 5.66 million in May, but are 9.8 percent higher than the 4.89 million-unit pace in June 2009.NAR Chief Economist Lawrence Yun said the market shows uncharacteristic yet understandable swings as buyers responded to the tax credits.“June home sales still reflect a tax credit impact … (1 comments)

general market information: Existing-Home Sales Up in 2009 - 02/13/10 04:07 AM
According to the National Association of Realtors®, existing-home sales fell as expected in December after first-time buyers rushed to complete sales before the original November deadline for the tax credit. However, prices rose from December 2008 and annual sales improved in 2009.
Existing-home sales - including single-family, townhomes, condominiums and co-ops - dropped 16.7 percent to a seasonally-adjusted annual rate of 5.45 million units in December from 6.54 million in November, but remain 15.0 percent above the 4.74 million-unit level in December 2008.
For all of 2009 there were 5,156,000 existing-home sales, which was 4.9 percent higher than the 4,913,000 transactions … (0 comments)

Phil Kretchmar (RE/MAX Advantage)

Phil Kretchmar

Lewisville, TX

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