National Association of Real Estate Existing Home Sales-Phyllis Wolborsky And The Wolborsky Group-Raleigh NC
Existing-Home Sales Report
Existing-home sales slowed slightly during the month of April according to a recent report by the National Association of Realtors (NAR). Existing-home sales, which include recently purchased single family, townhomes, condominiums, and co-ops, fell by 0.8 percent to a seasonally adjusted annual rate of 5.05 million units nationally.
Lawrence Yun, NAR chief economist, believes the market can do better. "Given the great affordability conditions, job creation and pent-up demand, home sales should be stronger," he said. "Although existing-home sales are expected to trend up unevenly through next year, unnecessarily tight credit is continuing to restrain the market, along with a steady level of low appraisals that result in contract cancellations."
Total housing inventory increased 9.9 percent by the end of April to 3.97 million existing homes for sale. This represents a 9.2-month supply at today's current sales pace. Freddie Mac reported the national commitment rate for a fixed-rate conventional 30-year mortgage was 4.84 percent in April, unchanged from the month before.
Survey Shows Confidence in HomeOwnership
Americans remain confident in homeownership investment, according to a national survey conducted by the Pew Research Center in Washington. The survey reflects a strong confidence in our housing market and future outlook.
According to the survey, 81 percent of adults believe homeownership is the best long-term investment a person can make. Homeownership still remains the top long-term financial goal, along with living comfortable after retirement. The recent shakeup in home prices has done little to deter people from homeownership. In fact, low mortgage interest rates and strong housing inventory have created lucrative incentives for today's home buyer.
We encourage would-be home buyers to contact us about the advantages of homeownership. We would be happy to answer questions regarding today's market, and show you the path to owning your own home.
Summer Selling Opportunity
Sellers, you have an excellent opportunity to sell your home this season, if you have the right pricing strategy in place from the start! Studies show that the longer a property stays on the market, the less the seller will net upon the sale. It is very important to price your property at a competitive market value at the signing of your listing contract. The market is so competitive that even over-pricing by a few thousand dollars could mean that your house will not sell.
An Overpriced Home:
· Minimizes offers
· Lowers agents response
· Limits qualified buyers
· Lowers showings
· Lowers prospects
· Limits financing
· Wastes advertising dollars
· Nets less for the seller
View some of Phyllis Wolborsky and The Wolborsky Groups Listings and let us know if we might schedule a showing.
http://www.phyllisdiditagain.com/Properties
If you are in the market to buy or sale real estate please visit my website at www.PhyllisDidItAgain.com or www.AllenTate.com/PhyllisWolborsky to view all of my featured listing and the listings offered by our MLS service. Call Phyllis Wolborsky at 919-876-2372, Visit Brian Wolborsky at www.Raleighhomeguide.com, or call 919-427-9508, call Mitchell Wolborsky at 919-270-1049, Kevin Wolborsky at 919-608-2000, Rick Freeman and Amy Davis at www.HomeSearchRaleigh.com or call 919-649-2941, or 919-649-6638.
Have a great day and it would be our pleasure to assist you with all of your real estate needs.
No hassles or obligation - just honest advice on how to get top dollar for your home!
