Good News from the November Existing Home Sales Report

The National Association of Realtors (NAR) recently released their statistics for November 2014, which indicate, on the whole, good news for the world of real estate.

According to this recent infographic from Keeping Current Matters, positive trends abound:

Existing-home sales, price median, and inventory were all up from their position last year.

Sales:

Sales alone were up 2.1% from November 2013, marking the 2nd month in a row for year-over-year gains in this category. Typical buyers also abound, as we see a decline in investor purchases from 19% to 15%.

First-time buyers appear to be more active on the market, climbing to 31% in November. The last time this percentage was seen was in October 2012.

Furthermore, it seems that 32% of homes were on the market for less than a month, indicating quick property turnover rates.

Price Median:

$205,300 was the median home price for November - up 5% from November 2013 (additionally marking the 33rd consecutive month for year-over-year gains).

Inventory:

Inventory is at a 5.1 month supply, up 2.0% from November 2013.

Distressed Sales:

The only depreciated item on KCM's list, distressed homes accounted for only 9% of sales in November 2014, down from 14% in November 2013.

What do these figures mean for you? Don't hesitate to send us an email or give us a call! We'll be happy to help.

Real Group Real Estate

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