Home Sales Report October 2016

By
Real Estate Agent with Berkshire Hathaway Home Services Crest CDRE #01044712

On November 22, 2016, National Association of Realtors® (NAR) reported that nationwide existing home sales increased 2.0% to annual rate of 5,60 million homes in October of 2016 from 5.49 million homes in September of 2016, and gained 5.9% to annual rate of 5.29 million homes from October of 2015.

There were 2.02 million homes supplies of available inventory in October of 2016 down 0.5% from September of 2016, and dropped 4.3% from 2.11 million homes in October of 2015; while, there were 4.3 months available inventory in October of 2016 compare to 4.47 months in September of 2016. Properties on avarage stayed on the market for 41 days in October of 2016 gained from 39 days in September of 2016, but fell from 63 days in October 2015. On average it took 57 days to sell a home in October of 2016 rose from 49 days in September of 2016, but fell from 57 days in October of 2015.

First time buyers acquired 33.0% of homes in October of 2016, lower from 34.0% in September of 2016, but up from 31.0% in October of 2015. Cash buyers purchased 22.0% of all sales in October of 2016, higher as from 21.0% in September of 2016, but declined from 24.0% in October of 2015. Investors purchased 13.0% of homes in October of 2016, decreased from 14.0% in September of 2016, but same as from 13.0% in October of 2015, according to Adam DeSanctis of www.realtors.org on November 22, 2016.

Lawrence Yun, NAR chief economist, stated "Buyers are having more success lately despite low inventory and prices that continue to swiftly rise above incomes."

For more complete information, on NAR's October of 2016 existing home sales report, please CLICK HERE

Posted by

John Pusa

Real estate agent, Glendale, CA

Better way to buy and sell real estate

Berkshire Hathaway Home Services Crest

Office (818) 441-8881

Mobile (818) 441-8881

4005 Foothill Blvd.

La Crescenta, CA. 91214

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
ActiveRain Community

Post a Comment
Spam prevention
Spam prevention
Post a Comment
Spam prevention

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
2,390,389

John Pusa

Your All Time Realtor With Exceptional Service
I will be very happy to assist you with your real estate needs.
*
*
*
*
Spam prevention