Home Sales Hit Highest Level of the Year

October 23rd, 2014 by Jo O'Key

Existing-Home-Sales

The National Association of Realtors (NAR) released their Existing Home Sales Report earlier this week. The report revealed that “sales bounced back in September to their highest annual pace of the year”. As the chart below shows, after a very slow start at the beginning of the year, residential home sales have been increasing nicely.

Glow in the Dark Trees = Cool

October 23rd, 2014 by Jo O'Key

Glow in the dark plant

Are You Ready for Glow-in-the-Dark Trees?

They’re no longer science fiction. A team of California biologists has already created glowing plants, and now they’re working on glowing trees. Read

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© Copyright 2014 NATIONAL ASSOCIATION OF REALTORS®

#1 Reason to Sell Your Home Now

October 21st, 2014 by Jo O'Key

The price of any item (including residential real estate) is determined by ‘supply and demand’.  If the supply of an item is larger than the amount of people looking to purchase that item, the price will decrease.

According to the National Association of Realtors (NAR), historically there is a natural decline in buyers looking to purchase a home (also known as foot traffic) as the winter months approach. Shown in the graph below:

Foot Traffic

 

NAR goes a step further to say that there is a direct correlation between “foot traffic” and “pending contracts/closed sales one to two months later”.

Bottom Line

The real estate market has done well to recover from the slow start we experienced due in part to the inclement weather at the beginning of 2014.  But with those winter months right around the corner, now may be the best time to get the best price.