Seasonally adjusted annual rate of home sales was 497,000 in June 2013, according to The Commerce Department, which said sales rose 8.3% on an year-over-year basis.
Speculation is that rising interest rates may have had a hand in this as people who had been thinking about buying a home may have moved faster because mortgage were rising during the month. This explanation concurs with my theory about continued rising home prices during the remainder of 2013.
The inventory levels for new homes is also tight, which is similar to existing home sales. USAToday, a national newspapaer, reports inventory of new homes would sell out in 3.9 months at the pace of sales during June 2013. The tight supplies are believed to be contributing to higher prices for new homes. I suspect a similar phenominon for sales of exisitng homes as has been discussed in previous posts.
I take an analytical approach to buying, selling and leasing real estate. I work with families, people looking for a rental home, a second home, investors, etc. As a Realtor, I am aware of trends in the domestic market, as well as in the local markets throughout South Florida. If you are thinking of selling or buying a home, please feel free text me or call me at 561-247-3550.
For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at http://homes.MYsouthFLrealestate.com
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
An Analytical Approach To Buying, Selling and Leasing Real Estate
http://MYsouthFLrealestate.com
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