Home sales statistics, from those provided by the National Association of Realtors to MRED, suggest positive trends in housing.
By Stephanie Sims
The National Association of Realtors recently reported that nationally, 33 percent of homes sold were sold within one month – that’s it. In addition, MRED said that in Chicago’s market, 50 percent of homes closed in July were on the market for less than 60 days. Those stats don’t look too bad.
Home Sales Statistics – Positive Trends
In addition, 22 percent of homes sold in July were traditional resales, not REO properties, and they were on the market for less than 30 days – a 25 percent increase since April of this year. And there’s even good news when it comes to REO properties! REO homes that were sold within a 30-day time frame increased to 9.9 percent for the month of July. It’s important to take note here that REOs are not short sales or properties in the process of foreclosure. because they are already owned by the bank and through the foreclosure process. What does this mean? Like most of what’s going on in the market, this data is a small sign that a housing recovery can be on its way.
Why are you surprised the market is improving? Many of us legitimate hardworking agents have been telling consumers just that for over a year.
I work in the Northwest Suburbs & there is increased pendings month over month consistently. Inventory has been the lowest I’ve ever seen it.
I have seen such an improvement in the quantity of properties being SOLD in the Western Suburbs since this time last year. For instance, I SOLD a home in Lagrange in 1 week. Yes, that’s what you read….1 week! Our office of 75 agents is definitely seeing alot more action in the Real Estate market than ever in the past 5 years…to be exact!