Category Archives: Short Sales

Latest information and trends on buying and selling short sales

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NAR June Sales Report: Home Sales DROP 5.1%

June National Association of Realtors Released the June home sales numbers….and…as we have been predicting…they are ugly:

* 5.1% Decrease in home sales.
* $183,700 Medium Price
* Inventory UP 2.5%..nearly 9 month supply of homes…NAR reports as VERY HIGH.
* NAR, expects a continued INCREASE in inventory. Agents, this will drive prices down even further. NOTE: Any of you still doubting a housing double dip, doubt no longer.
* Distressed sales, 32%…short sales increasing. Of all the sales in June 1/3 were..Short Sales and REOs.
* First time buyers, 43% of ALL Sales.
* Cash Buyers, 25%. of ALL Sales.

CNBC Realty Check Video

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