On a national level, August 2011 sales were up!

By
Real Estate Agent with John R. Wood REALTORS

 

On a national level, August 2011 sales were up

 

According to the National Real Estate Association (NAR), existing-home sales rose 7.7 percent to a seasonally adjusted annual rate of 5.03 million in August from an upwardly revised 4.67 million in July. "The increase came even as overly tight credit, appraisal issues, and Hurricane Irene hampered markets. Some of the improvement might result from sales that were delayed in preceding months, but favorable affordability conditions and rising rents are underlying motivations," NAR Chief Economist Lawrence Yun says. Investors were more active in absorbing foreclosed properties.  In additional to bargain hunting, some investors are in the market to hedge against higher inflation. Source: National Association of Realtors.


Additionally, certain areas of the country such as California, Arizona, and others are currently experiencing real estate markets that are robust and thriving, despite difficulties in some other locales. As an example, see these two reports from Phoenix and North Carolina by RealTrends:


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Rainmaker
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Ken's Home Team LLC. | 360.609.0226 | Portland, OR & Vancouver, WA Real Estate Team
Ken's Home Team LLC. - Vancouver, WA
- SOLD IS OUR FAVORITE 4 LETTER WORD -

It is great numbers I am so glad things are changing a bit!!!

 

Oct 20, 2011 03:49 PM #1
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Rainmaker
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Garren Grup

REALTOR, ABR, CNE,CDPE, GRI, Naples & Bonita Springs, FL
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