The National Association of Realtors has released their 2012 Year End Statistics for existing home sales.
In 2012 existing home sales increased by 9.2% from 2011. This is the highest increase since 2007.
The National average home price increased from December 2011 to 2012 by 11.5% to $180,800. This was a 10 month year over year increase.
The national average median price increased by 6.3% to $176,600. This is the largest increase since 2005.
Our inventories of homes for sale at 2012 year end are at the lowest they have been since the housing boom in mid 2005. With just 1.82 million units, this is only a 4.4% suppy of inventory.
Chief economist, Lawrence Yun, for the National Association of Realtors predicts that, "both sales and prices will again be higher in 2013."
So, those that are holding out for "that great deal" you may want to rethink your strategy and start moving forward on those good deals, if you can still find them. Every day we are seeing fewer properties on the market for sale.
Interesting, but we are hearing no mention of the "shadow inventory" of foreclosures that will eventually be coming on the market.
M & M Real Estate, Inc.
Residential, Investment and Relocations
We have a team of professionals to facilitate your Short Sale.
Melbourne Real Estate / Palm Bay Real Estate
321-253-4545 or 321-733-6080
Email me at SandyShoresMelbourne@hotmail.com
Serving Brevard County Florida for 16 Years
Brevard County Resident for 37 Years
Melbourne, Palm Bay, Suntree, Viera, Rockledge,
Cocoa, Canaveral Groves, Merritt Island, Titusville, Mims,
Melbourne Beach, Indialantic, Indian Harbour Beach,
Satellite Beach, Cocoa Beach, Cape Canaveral
I buy, sell, rent, own and manage Investment Property.