More good news on the National level in regards to existing homes sales. The National Association of Realtors (NAR) released September 2012's report on existing home sales. Although sales are down from August they are still up 11% percent from last year this time. This is a continuation of the upward trend we have seen for several months.
The prices of homes has seen an upward trend as well. This could be do to the decrease in distressed properties (short sales and foreclosures). The market is seeing a more favorable mix in houses now hopefully indicating we are through the worst of the storm.
The time a home spends on the marker has also decreased as well as overall home inventory. When this happens it causes the upward trend in home prices that we are noticing.
To sum it up – homes are selling faster and for more money! Great news for sellers!!