Donna Yates, Move 2 North Georgia.net: Existing Home Sales Rose Sharply - So What?

Existing Home Sales Rose Sharply - So What?

North Georgia Real Estate, Housing Market Sales Data, National Association of Realtors

 

I am an Associate Broker and real estate is my passion and my livelihood.  So perhaps, some will think I'm prejudice or seeing the condition of the housing market through rose colored glasses.  But it would not serve me well or benefit anyone reading this post, if I paint a rosier picture than what the real data shows. I am the sort of gal that wants  "just the facts ma'm"!  

The information below is on a national level.  I will be reporting local market conditions for the North Georgia Mountains in my next post shortly.

 

UP UP and Away 

Once again I find the cable news reports of seemingly non-stop negativity of the housing market conflicting with Actual sales data for completed real estate transactions.

Existing home sales rose sharply in December for the fifth (count 'em) fifth time in six months. Completed transactions which include single family, townhomes, condos, and co-ops rose 12.3 percent upwardly from November but December 2010 is still off from December 2009 by 2.9 % below.

 
    So, this indicator is trending upward and that's the right direction. 

 

 

 

 

 

What Goes UP Must Come Down and in this Case Down is Good

December's housing inventory fell 4.2% for existing homes available for sell which is down from November.


 So this indicator is trending downward and that's the right direction.

 

 

 

 

The national median existing home price for all housing types in December 2010 was only 1% lower than December 2009 coming in at $168,800.  Looking back over the last six months, the pattern is clearly showing recovery.  

 


  According to Lawrence Yun, NAR chief economist, "the market is getting much closer to an     adequate, sustainable level."  That's a good sign.

 

 

Does this mean we are out of the woods?  No, I would not go so far as to say that but the actual data shows improvement in the housing market in 2010 compared to 2009 and 2009 was better than 2008 as opposed to the perpetual mantra, "the sky is falling".

 

 

 So, it is still a slow go but there's more reason to believe that the worst could very well be    behind us.  As job growth gains momentum and exceptional affordability conditions remain,  homeownership will no longer be the nightmare it's been made out to be, but the American  dream that it really is.

 

 

My thanks to Margaret Woda for the graphic and idea for my title.

 

I help buyer clients establish their purchasing power, understand tax advantages, financing alternatives and investment aspects of homeownership.  I help seller clients in the sale and marketing of their home; two very different nuances.  I want to be your real estate information resource and representative. 

The North Georgia market is a very opportunistic market for buyers and sellers.  When do you think you will be making your next real estate move?   

My greatest privilege is to serve you, your friends and your family. Contact me today for assistance with all of your real estate needs.
 

 

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    Donna Yates, Associate Broker, GRI
    706-633-0644 Direct or 
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    My Fax Toll Free: 866-859-5454
    www.move2northgeorgia.net
    www.blueridgemountains.activerain.com

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    Donna Yates
    Associate Broker, GRI
    706-633-0644 Mobile
    Serving North Georgia Mountains and Metro
    Metro Brokers - Better Homes and Gardens Real Estate
    706-515-7500 Office

    MOVE 2 NORTH GEORGIA - HOMES FOR SALE

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    Comment balloon 0 commentsDonna Yates • January 22 2011 02:24PM

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