Today, the National Association of Realtors (the largest trade organization for residential and commercial real estate) revealed the January 2012 home sales results and the good news continues. Existing home sales were up a whopping 4.3% –the most homes sold in a single month since May 2010. More importantly, sales have increased 13% over the last 6 months making the numbers more meaningful since it is a real trend.
Of course when sales increase you can expect inventory to begin to decline. The supply of homes on the market has plunged to 2.3 million, the lowest level in almost six years.
So, if you are thinking of selling your home – you have waited for a really good time because there are more buyers in the market and the mortgage rates continue to be extremely low. If you are thinking of purchasing a home–it’s a great opportunity to get in at the begininng of an upward housing trend while prices AND mortgage rates are still incredibly favorable.
To receive the specific January 2012 results in your town(s) of interest, just call/text me (917) 327-0701 or email me at [email protected].