13,780 Homes Sold Yesterday
To all those who have declared the real estate market dead, we want you to know that over 13,780 houses sold yesterday, 13,780 will sell today and 13,780 will sell tomorrow.
That is the average number of homes that sell each and every day in this country according to the National Association of Realtors’ (NAR) latest Existing Home Sales Report. NAR reported that sales had increased 7.7% over the month before and 18.6% over the year before. According to the report, annualized sales now stand at 5.03 million. Divide that number by 365 (days in a year) and we can see that, on average, well over 13,000 homes sell every day.
We realize that these numbers are below the record for homes sold in 2006. We also know that we may never see those numbers again (and that is probably a good thing). But to say that the current real estate market is dead or that houses are not selling is totally inaccurate. We have over 13,000 pieces of evidence to prove that.
| Members: Sign in now to set up your Personalized Posts & start sharing today! Not a Member Yet? Click Here to learn more about KCM’s newest feature, Personalized Posts. |
Exactly! The activity that we’ve experienced in our local markets is consistent with Pre 2004-2006 levels. That is a “normal” market by recent historic standard. We sell many more homes per year than we did on the national level in the 1980’s and 90’s I believe. So considering the the fact that new construction is not keeping pace with population growth (gen y and millenials) I feel we will experience a shortage of inventory again in the future as the pace of sales continue to move higher and higher. Records will be broken once again and I’m looking forward to being a part of it. Great message KCM.
Interesting stats that ring true for my area…new construction continues to expand, foreclosures are dropping, and agents are helping buyers into homes everyday. Real estate is far from dead in middle GA.
Here in the Napa Valley, things are moving well. The last few months have been fantastic. We only have about 4 months worth of inventory, and high-end ($1,000,000 +) market is really moving now as well. The under $500,000 market is screaming and we are seeing multiple offers on many properties.
I do accept aas true with all tthe ideas you’ve offered for your post.
They are very convincing and can certainly work. Nonetheless, the posts are too short for beginners.
May you please extend them a little from subsequent time?
Thanks for the post.