Excerpt from: Ski Resort Market Trends and Statistics
|
 |
| July 01, 2009 | | Housing market news remains mixed | Today, the National Association of Realtors announced that pending home sales increased in May. This increase in homes that were under contract is encouraging for many. MarketWatch reports on the new data:
The pending home sales index rose 0.1% in May after an upwardly revised
gain of 7.1% in April, the National Association of Realtors said. The
index is 6.7% above May 2008.
"Strong activity by entry level buyers is helping to absorb inventory
and allow some existing owners to make a trade," said Lawrence Yun,
NAR's chief economist, in a statement.
He added that existing-home sales should trend up through the end of the year.
This news comes just days after a report that new home sales have decreased. New homes are those that are new-built. Existing homes are those that already have owners. Existing homes are more desirable right now, since they are often priced lower than new homes. Those with current owners are often more willing to negotiate on price. Additionally, foreclosures and other distressed homes are also considered existing homes, and the sales on those have increased due to bargain hunting.
| | |
|
|
