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The National Association of Realtors said Monday that sales of previously occupied homes fell last month to a seasonally adjusted annual rate of 4.88 million. That’s down 9.6 percent from 5.4 million in January. The pace is far below the 6 million homes a year that economists say represents a healthy market.
Nearly 40 percent of the sales last month were either foreclosures or short sales, when the seller accepts less than they owe on the mortgage.
For February, sales fell in all four regions of the country, by 12.2 percent in the Midwest, 10.2 percent in the South, 8 percent in the West and 7.2 percent in the Northeast.
Sales of single-family homes fell 9.6 percent to an annual rate of 4.25 million units. Sales of condominiums fell 10 percent to a rate of 630,000 units.
Sales of previously occupied homes fell 9.6 pct., median home price hit 9-year low - The Washington Post (http://www.washingtonpost.com/business/sales-of-previously-occupied-homes-fell-96-pct-median-home-price-hit-9-year-low/2011/03/21/ABaL6R6_story.html - broken link)
No surprise there. Anyone who knows contractors and lived in Florida knows this is the worst market we have seen since 1995...It will take a long time to make the "american dream" -aka a stupid clapboard house of 3,000 sq ft worth 400k again..... thanks to goldman sachs and r.e. profiteers.
In the past I have always been able to make something happen and get a contract. Now it is one a month, if that.
Thats actually surprising because I've seen 2 homes near me that have been listed over a year ago get sold signs recently, and the home 2 doors up from me that was listed just a few months ago, is now sold as well..
I thought things were turning around in the industry..
Thats actually surprising because I've seen 2 homes near me that have been listed over a year ago get sold signs recently, and the home 2 doors up from me that was listed just a few months ago, is now sold as well..
I thought things were turning around in the industry..
LOL!
I don't sell homes. I do floors. Contracts are not as easy to find.
What recovrey, most know that without a good housing market, things are in the tank. Think things are going to get better think again. This is not the freaking Hope and Change most of us so wanted to believe in, even if we did not vote for Obama, i so wanted to believe in his hope and change but soon reality sank in. And i found out his speeches were just that, smart jive talkin.
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