Home Sales Reach Seven Year High
There are many naysayers declaring that the housing market is still challenged.
Young adults are burdened with too much student debt. Interest rate increases are killing demand. Homeownership is no longer seen as part of the American Dream.
We just want to let these naysayers know three things: 13,945 houses sold yesterday, 13,945 will sell today and 13,945 will sell tomorrow. 13,945!
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. According to the report, there were 5.09 million homes sold in 2013. Divide that number by 365 (days in a year) and we can see that, on average, almost 14,000 homes sell every day.
NAR revealed that sales had increased 9.1% as compared to 2012 and that it was the market’s strongest performance since 2006.
We realize that these numbers are below the record for homes sold during the boom. We also know that we may not see those numbers again for a long time (and that is probably a good thing). But to say that the current real estate market is challenged is totally inaccurate. We have about 14,000 pieces of evidence to prove that.
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Once again, seems the only way to share this is along with the promotion for the Winter Guide and membership – which is obviously not focused on or appropriate for our followers and clients…
Hi David,
We are working on a work around for KCM subscribers where they can share blog posts without the ads. A picture of the agent and the agent’s direct contact information would replace the ad. We hope to have this operational in the first quarter of 2014.
This and every upgrade has a cost to it and, in order to keep members’ investment in KCM at $19.95, we need to increase membership. That is the reason for the ads you see.
As a possible short term solution, I might continue to share the blog with a message similar to this:
“Here is some great information on the real estate market. If you want a deeper explanation of the information I am a KCM Member and already have all the additional information mentioned at the end of the blog. Would love to share that with you also. Let me know.”
Hope this helps!
Steve
Great post! Been going over this all month with my private lenders.
I find this information really interesting. Just a warning. Like politics, all real estate is local. I sell on Cape Cod and the national data seldom matches what is actually going on here. Even data from MAR (the Mass. branch of NAR) is not often accurate for my clients. What’s going on across the State may be quite different from Cape Cod. We are a destination location, second-home market. Most sellers don’t have to sell and most buyers don’t have to buy. The NAR and MAR data is INTERESTING but local date is CRUCIAL. See my market reports at http://www.CapeRealReports.com OR Google: Cape Real Reports.
We hear about improving market from our clients all over the country. The actual numbers may be different but it looks like a lot of buyers who were on the fence, now understand that “the ship has sailed” and the longer they wait, the more they’ll pay for a possibly smaller home.
Your info is only useful to me if it is concerning the San Francisco Bay Area. Please reply if you do this
Deborah
Hey Deborah, while some of our information is broken down to the state level, most of our information is at a national level.