New National Assn. of Realtors Statistics

By
Real Estate Broker/Owner with KTHOMES, LLC 100002367

The latest statistics from NAR (National Association of Realtors) below, shows trends for the different sections of the United States and now indicates that the highest median price for a property is in the Northeastern states, with the West Coast coming in a close second.  The Midwest shows the least expensive median price.  

Looking at the supply of homes can be a good indicator of whether or not it is technically a buyer's market or a seller's market.  This is also known as the absorption rate.  If there is a 6 month supply of homes for sale, that is usually a balanced market.  If there is less than a 6 month supply of homes, it would be considered a seller's market and if it is more than a 6 month supply, it would be considered a buyer's market.  According to these national statistics, we are very close to the market becoming a seller's market. Of course this is a nationwide statistic, so many specific areas are still very much a buyer's market.  But it HAS changed dramatically from previous years.  Could it be we really are through the worst of it??

Existing Home Sales from NAR

 

 

 

 

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Comments (6)

Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

I believe as Sinatra did, that the best is yet to come! Haha!

 

Love and light,

Laura

Feb 24, 2012 11:54 AM
Nathan Rufty - 623-850-1210
Canopy Mortgage, LLC - Surprise, AZ
Mortgage Loan Originator at 623-850-1210

I love a sellers market, prices go up. But let it be controlled this time around 

Feb 24, 2012 12:11 PM
Florida Tolbert Team Keller Williams Advantage
Keller Williams Advantage III Realty in Lake Nona - Orlando, FL
Keller Williams Land Luxury Division Specialist

Sounds good but could you make it a bit bigger so we can see it look good. 

Feb 24, 2012 12:22 PM
Sharon Parisi
United Real Estate Dallas - Dallas, TX
Dallas Homes

In Dallas our January sales numbers were up 14%, for the number of transactions.  Let's hop this continues throughout 2012.

Feb 24, 2012 12:51 PM
KAREN THOMPSON, GRI, REALTOR
KTHOMES, LLC - Frederick, CO
Colorado Homebuyer Pro

Kevin, Is that better now?  Sorry about that small print! Didn't you have your magnifying glass handy??  HAHA

Feb 24, 2012 01:49 PM
Sylvie Stuart
Realty One Group Mountain Desert 928-600-2765 - Flagstaff, AZ
Home Buying, Home Selling and Investment - Flagsta

These are great stats! I think confidence is coming back in most markets which is helping to burn up some of the inventory that was bogging us down for a bit there.

Feb 25, 2012 01:23 AM