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The most common misconception today is that homes are not selling. That is simply?false?in today?s housing?market. The?Existing Sales Report from the National Association of Realtors (NAR) showed that in April, homes were selling at an average of?13,973 every day ? 365 days a year. That?s an annual rate of 5.10 million!?Lawrence Yun, NAR?s chief economist said that??Since reaching a cyclical bottom last June, pending home sales have posted an overall gain of 24 percent and demonstrate the market is recovering on its own. The index means modest near-term gains in existing-home sales are likely.? This was prompted from?the monthly Pending Sales Report (measures the number of houses going into contract each month) which?showed increases in six of the last nine months.
Even though 40% of those home sales are?distressed properties and?22% of those buyers are investors, that?still?does not negate the fact that homes are selling. The KCM Blog also reports that 60% of those home sales are not?foreclosures?or short sales.
To read the entire article, visit The KCM Blog.
Source: http://blog.mccraylumber.com/news/the-real-estate-truth-homes-are-selling/
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