Tuesday, May 14, 2013

 
 

 
 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??

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