Home Sale information for Barrington...still ahead of last year!

Great information...Sometimes when you are  watching the news..you are not really getting the correct information for our "neck of the woods" For instance...sales in our Multiple Listing Service are actually up!!

"Annualized Existing Home Sales for June dropped 5.1% from May, but were still 9.8% above the pace a year ago, according to a report released by NAR today.  “June home sales still reflect a tax credit impact with some sales not closed due to delays, which will show up in the next two months.  Only when jobs are created at a sufficient pace will home sales return to sustainable, healthy levels,”  said Lawrence Yun, NAR Chief Economist.

“Despite market swings, total annual home sales are rising above 2009,” said NAR President Vicki Cox Golder.

Note:  The RE/MAX National Housing Report on 54 metro areas, which is not annualized, showed a 5.6% increase over June 2009 sales.

June Annualized Existing Home Sales

	June 2010	May 2010	1 Mo Change	June 2009	1 Year Change
National	5.37mil	5.66mil	-5.1%	4.89mil	+9.8%
Northeast	.960mil	.890mil	+7.9%	.820mil	+17.1%
Midwest	1.23mil	1.33mil	-7.5%	1.10mil	+11.8%
South	2.01mil	2.15mil	-6.5%	1.81mil	+11.0%
West	1.17mil	1.29mil	-9.3%	1.16mil	+0.9%

June Inventory Levels

1.       Total residential inventory = + 2.5% to 3.99 million homes

2.       Months Supply = 8.9 months up from 8.3 in May

June Median Sales Price

1.       National All Residential = $183,700, which is 1.0% higher than June 2009

June Survey

1.       Distressed homes were 32% of all sales up from 31% in May

2.       First Time Buyers purchased 43% of all homes, down from 46% in May

3.       Investors accounted for 13% of all sales down from 14% in May

4.       All-Cash deals were 24% down from 25% in May

5.       30 yr fixed average = 4.74% down from 4.89% in May and 5.42% a year ago.

(National average commitment rate from Freddie Mac)


So folks...if you want to know what is happening in "our neck of the woods" call Judy!
cheers!