A couple of days ago the National Association of Realtors released some statistics that showed February existing homes sales showed and unexpected increase. A few days later, a key government report released some statistics showing that February new homes sales fell to a 13 year low. So, the question is, what does all this mean? I personally don’t think these reports by themselves mean much at all. As I mentioned in a previous post, one month’s data doesn’t tell us much. We need to be looking for trends or consistent movement in one direction of the other. The trend line recently has been down and now everyone is looking for the bottom and more importantly when things start ticking back up.
Having said all of that, there are always opportunities to find good deals and make money in real estate. It is good to be informed and to stay on-top of what is happening in the real estate market, but don’t get too caught up on if it is a good time or bad time to be buying.
Get out and look for deals and make it happen regardless of what you are reading in the news media.
Posted by Carter Brown
Real Estate is local – different areas of the country are doing better than others. If you get on the website http://www.realtor.com you can view statistics for your area.
New homes sales are down and basically that means exactly that – NEW home sales. Although the number of sales (new and existing homes) are down in many areas in some areas of the country you are still finding slight appreciation.
This is a great time to buy!! Especially for investors. Sellers are more willing to negotiate the sales price than ever before. There are also many buyers still in the market because of the low interest rates. They also are looking for deals but many are less willing to do work.
In the end it all boils down to price – if it is priced right it will sell, if it is not it won’t.