Info That Hits Us Where We Live, Saratoga Springs NY- End of May 2013

QUOTE OF THE WEEK… “In April the sweet showers fall…” –Geoffrey Chaucer, Prologue to ‘The Canterbury Tales’

INFO THAT HITS US WHERE WE LIVE… A shower of home purchases sure sweetened the real estate market in April, as Existing Home Sales gained 0.6% for the month, hitting an annual rate of 4.97 million units. This put them up 9.7% over a year ago, reaching their highest sales pace since November 2009, when they were helped along by an $8,000 homebuyer tax credit. No government largesse is needed now to lure buyers, and the median price of an existing home is up 11.0% from a year ago, the supply at 5.2 months.

April was a sweet month for new home purchases too. New home sales were up 2.3%, to a 454,000 annual rate, and are now up a solid 29.0% versus a year ago.The faster sales pace meant that a 5,000-unit increase in inventories did not push out the 4.1 months’ supply. With the number of completed new homes at a record low, buyers are moving quickly. The median new home selling price is up 14.9% over a year ago. In addition, the FHFA index of prices for all homes financed by conforming mortgages was up 1.3% in March and is up 7.2% over a year ago.

Kristen Zorda
Loan Officer
648 Plank Rd. Suite 203
Clifton Park NY 12065
Office: 518-366-7999

Orson B.Klender,  Associate Broker

Keller Williams Realty Saratoga Springs
38 High Rock Ave, Saratoga Springs, NY 12866

www.RealEstateSaleSaratogaSpringsNY.com

www.OrsonKlender.com

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Cell: 1 (518) 588-2319 ~ Fax: 1(866) 588-6066

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About Real Estate Agent in Saratoga Springs

As an agent who's an expert in this local area, I bring a wealth of knowledge and expertise about buying and selling real estate here. It's not the same everywhere, so you need someone you can trust for up-to-date information. I am eager to serve you.

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