February Housing Stats – National Association of Realtors Report

1628 Bishop Road in Lincolnton, NC  Offered at $169,900

1628 Bishop Road in Lincolnton, NC Offered at $169,900

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The NAR reported this week that February 2009 Homes Sales increased 5.1% over January 2009, but sales are still down 4.6% over February 2008.  Please note all stats are based on National Stats.

First Time Home Buyers accounted for at least Half of the February home sales, which attributes to more sales in lower price ranges. 

40-45% of February Sales were Distressed Properties.  On average Distressed Properties are selling for approximately 20% less than normal market value.

Housing Affordability is at a record High and interest rates on rose slightly above 5% in February 2009.

The number of home buyers is up 5% in February 2009 over January 2009 and also up 5% over February 2008.

The NAR President says that he expects Home Sales to pick up in Late Spring.

The median existing Home Price is $165,400 across the nation down 15.5% from a year ago.

Housing Inventory has rose 5.2% .  There are currently over 3.8 million existing homes for sale, which is a 9.7 month supply across the US.

In the South, Sales have rose 6.1% from January 2009 to February 2009, but are down 11.2% from a year ago.  The median existing Home Price is $146,700, down 10% from a year ago.

Although this may not all sound positive, it is certainly some of the best news we have heard in a while.

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About Michelle Nantz

There are many qualities and skills that go into being an excellent real estate professional: integrity, in-depth community and market knowledge, marketing savvy, effective negotiation skills, and a high-quality professional network ~ all of which are hallmarks of Michelle Nantz. In 2003, Michelle began her career in real estate, after a successful career in restaurant and hotel management with her last position as Regional Director of Operations running 56 hotels throughout two states. She owes her success in real estate and management to her expertise in people skills, managing, negotiating, and follow-up. However, it is Michelle’s dedication to quality service that she ultimately credits her success. Michelle shared, “In my experience as a Lake Norman real estate professional, I’ve found that providing the very best service is essentially about putting my clients first. This means keeping myself accessible, being a good listener as well as a good communicator, and responding quickly to their needs.” This “client first” philosophy combined with continual personal improvement and keeping up-to-date with the latest technologies is a cornerstone of both Michelle’s and Lake Norman Realty’s business philosophy. In addition to Michelle’s extensive real estate education and her experience in the local market, she is also an Accredited Staging Professional®, which brings additional value to marketing her clients’ homes. Michelle and her family have made the Lake Norman area their home for over 10 years. In her rare leisure moments, you’ll find Michelle with her three children and husband, or unwinding with gardening or reading. “I live and work in this community and only have the best interests of our community and its members in mind,” says Michelle. Her community activities include participation in Denver Days, Relay for Life and support for Christian Ministries and area schools.
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