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US Home sales – September 2015 – Update

September 18, 2015

HOME SALES

Sales of existing homes increased two percent in July to a seasonally adjusted annual rate of 5.59 million, the fastest rate since February 2007, according to the latest National Association of Realtors (NAR) report. It was the third consecutive monthly increase. Sales have jumped 9.6 percent over the past 12 months, while the number of listings has declined 4.7 percent. Lawrence Yun, NAR chief economist, says the increase in sales in July solidifies what has been an impressive growth in activity during this year’s peak buying season. “The creation of jobs added at a steady clip and the prospect of higher mortgage rates and home prices down the road is encouraging more households to buy now,” he said. “As a result, current homeowners are using their increasing housing equity towards the downpayment on their next purchase.” However, the NAR report added that “stubbornly low inventory levels and rising prices are likely to blame for sales to first-time buyers falling to their lowest share since January.” (NAR)

Naples News

REALTORS® Busy from Beaches to Beyond
Release Date: Friday, August 21, 2015
Pendings sales increased 24% in the $300K-$500K category 12-month ending 07/2015
Closed sales increased 26% in the $300K-$500K category 12-month ending 07/2015
Median Closed Price increased 16% in the $2M+ category and 14% overall 12-months ending 07/2015
Inventory decreased 26% in the $0-$300K category and increased 28% in the $2M+ category July 2014 – July 2015
DOM decreased 32% in the $500-$1M category and increased 21% in the $2M+ category July 2014 – July 2015

Michael Parkinson
MVP Realty Associates
813-766-2137



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Telephone: 0115 939 4606
Email: simon@optimiseaccountants.co.uk