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Sales Up in almost Every Price Range

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Sales Up in almost Every Price Range | Simplifying The Market The National Association of Realtors’ most recent Existing Home Sales Report revealed that home sales were up rather dramatically over last year in five of the six price ranges they measure. Only those homes priced under $100,000 showed a decline (-6%). Every other category showed a minimum increase of at least 9.7%.

Here is the breakdown:

Sales Up in almost Every Price Range | Simplifying The Market

What does that mean to you if you are selling?

Houses are definitely selling. If your house has been on the market for any length of time and has not yet sold, perhaps it is time to sit with your agent and see if it is priced appropriately to compete in today’s market.
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Home Prices Continue to Rise

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Home Prices Continue to Rise | Simplifying The Market

“Broad-based Slowdown for Home Prices”

That is a headline you might have seen over the past weekend. And though it is true, we must understand the story behind the headline. Case Shiller reports on the year-over-year difference in home values. Their latest report revealed that the rate of appreciation has slowed – not that prices are falling!! Here is exactly what they said: “The 20-City Composite gained 4.9% year-over-year, compared to 5.6% in August.” Prices are still up this month over last year’s values (4.9%) just not as much as they were last month (5.6%).

Home Prices are NOT Falling.

As a matter of fact, the latest Home Price Expectation Survey by Pulsenomics (a survey of a nationwide panel of over one hundred economists, real estate experts and investment & market strategists) showed that home prices will continue to appreciate for the next several years. Home Price Expectation Survey Projected Prices | Simplifying The Market

Bottom Line

Both first time buyers and families thinking of moving-up to their dream home can be assured that their investment in their new home makes sense.
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