Info That Hits Us Where We Live – Home Sales Up, Inventory Low

QUOTE OF THE WEEK… “The single biggest problem in communication is the illusion that it has taken place.” –George Bernard Shaw, Irish writer

INFO THAT HITS US WHERE WE LIVE…  That Shavian witticism notwithstanding, the communication from Realtor.com was very clear. The National Association of Realtors (NAR) website offered ample evidence it should be a busy home-buying season this spring.In February, the number of properties for sale was up 10.1% over February a year ago, to 1,744,032 units. The reason may simply be that prices are up too. At $199,000, the median list price is 7.6% higher than it was in the same month last year. But the median age of the inventory has crept up as well, to 114 days.

Inventories, however, are still low. The NAR said the supply of existing homes, at 2 million listings, has been holding around a 13-year low, while new home inventory, at 180,000 listings, is at a 50-year low. Yet consumer feelings about home ownership remain strong. Another national listing site reports that more renters than not aspire to be homeowners. And nationwide, 10% of renters said they plan to purchase a home in the next 12 months. That’s an estimated 4.2 million first time home buyers who could flood the market in the next year.

Kristen Zorda
Loan Officer
NMLS# 58751
648 Plank Rd. Suite 203
Clifton Park NY 12065
Office: 518-366-7999
PrimeLending, a PlainsCapital Company

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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