Existing homes sales data increases thanks to foreclosure homes
First it was new housing starts and now it’s existing home sales. National Association of Realtors(R) today issued a report that should be considered more good news for the struggling national housing market, revealing that the sale of existing homes increased 5.1 percent between Jan. and Feb. 2009. The annual rate grew from 4.49 to 4.72 million [...]
First it was new housing starts and now it’s existing home sales.
National Association of Realtors(R) today issued a report that should be considered more good news for the struggling national housing market, revealing that the sale of existing homes increased 5.1 percent between Jan. and Feb. 2009.
The annual rate grew from 4.49 to 4.72 million units during that span, which marks the largest jump from month-to-month since July 2003. The reason?
Foreclosures!
Yep, the report indicates that smart buyers gobbling up discounted foreclosure homes is likely the reason behind the spike. We keep telling you … strike while the iron is hot! These amazing real estate deals clearly don’t last very long.
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