Thinking About Selling, Housing Inventory Is Still Low

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Existing Home Sales Take A Slight Plunge
New Home Sales Surge

There are three primary reports on home sales released each month.
  • Existing Home Sales, based on actual closings
  • Pending Home Sales, based on contracts signed 
  • New Home Sales, based on new contruction 
Both measure sales of previously owned homes, which account for roughly 90% of the market.  The report on new home sales covers the remaining 10% of the market and is also based on contracts signed. 

In May:
  • Existing homes sales decreased slightly from April and were 3% lower than a year ago. The inventory of existing homes for sale rose a little from April, but it still was 6% lower than a year ago.
  • Pending home sales in May showed a similar minor decline from April. It is clear that low levels of inventory are holding back sales of previously owned homes in many regions. 
  • New home sales jumped a higher-than-expected 7% from April to the highest level since November 2017, and were 14% higher than a year ago. Sales in the south region reached the strongest level since 2007. 
Home Owners this is YOUR time, the market is still hot (even with all the rain :))  Premier Homes by Angela would love to assist you with a Market Evaluation to help you determine if you are ready to sale now or a selected time frame in the future.  It is better to know your numbers, than guess your numbers.  THE KEY TO YOUR REAL ESTATE EXPERIENCE, Premier Homes by Angela, Excellence Indeed!

Source: ExactTarget

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