Home Sales Dropping?Some potential home buyers can't seem to find homes to buy, resulting in a drop of existing home sales in June. Compared to May 2012, June sales decreased fell by 5.4%. Across the country, the number of homes actually on the market is down by 24.4% from a year ago. With a smaller inventory, would-be buyers are not able to buy even with historically-low interest rates. Just this month it was reported at 3.5% for a 30-year fixed-rate. The local San Antonio movers learned that the number of homes sold in June was the lowest it has been in nine months. However, it was still 4.5% above the number o sales in June last year. Economists say that if home sales continue at this pace, home sales will hit 4.37 million this year but that it's still lower than a healthier 5.5 million to 6 million.
The local San Antonio movers learned the average home price in June this year was $184,900 which is an increase of 7.9% compared to that same time in 2011. Some say that this number is just a reflection of more expensive homes sold. The total number of home sales in the country is 2.39 million which represents a 6.6 moth supply of inventory, considerably balanced for a real estate market. The problem is that those homes for sale aren't really where the buyers are wanting to purchase and own. The local San Antonio moving specialists found out buyers have almost doubled in numbers but sellers only increased moderately.
Distressed properties represent 25% of home sales, which is a decrease of 30% compared to June last year. This means fewer foreclosed homes are coming up for sale. All cash home purchases represent 29% of transactions which is the same as last year. As home prices start going up, more buyers realize it's the time to buy and sellers wonder if they can hold off a little to make more profit. Rising prices will encourage newer construction and increase inventory.
What's your situation? Are you looking to buy before home prices get too high? If you found your dream home, call the All My Sons of San Antonio for professional moving services and even help with location reliable moving boxes as well as moving kits. The local San Antonio moving specialists are part of the All My Sons moving company so you know you'll be taken care of. The San Antonio movers are backed by four generations of movers and always deliver a hassle-free residential move.