April is in the books!!!
REIN's Press Release is titled:
Second Quarter Sales off
to a Good Start
No real surprise to me with the results! Here are the summary facts:
April 2013 vs April 2013
Homes for Sale Down 7.64%
Supply of Inventory Down 15.4% Currently 6.48 Months
Closed Home Sales Up 13.4%
Pending Home Sales Up 21.98%
Short Sale/Foreclosed Down 1.14% 23.89% of homes listed
Homes Listed (Lowest in 18 months)
Short Sale/Foreclose Down 3.21% 27.7% of homes sold
Closed Home Sales (Lowest in 6 months)
You should expect the Short Sale/Foreclosed homes numbers to continue to improve as the market values increase. The increase in home values will driven by the shortage of home on the market.
In given cities in Hampton Roads and in given price ranges, the reduced home inventory caused by fewer homes listed, increased closed home sales and increased pending home sales will put increased pressures for rising home values.
If you are on the sidelines, it is time to get in the game!
Would you agree....why or why not??