Tuesday, August 24, 2010 1:38 PM
Janet & Graham Ford
Sad Housing Sale Stats
Existing-home sales were sharply lower in July following expiration of the home buyer tax credit but home prices continued to gain, according to the National Association of Realtors®.
Existing home sales dropped 27.2 percent to a seasonally adjusted annual rate of 3.83 million units in July from a downwardly revised 5.26 million in June, and are 25.5 percent below the 5.14 million-unit level in July 2009.
Sales are at the lowest level since the total existing-home sales series launched in 1999, and single family sales – accounting for the bulk of transactions – are at the lowest level since May of 1995."
So with such sad news, how do you intend to get your home sold in this market?
Poor condition and high price may have been overlooked in past well supported home sale markets, but this will not "cut it now." Many buyers believe that is is a buyer's market and to some extent that is true, but dependant on your specific market place. Tulsa is slowly bringing up the rear of the downtrodden areas of the east & west cost that have been hit hard over the past few years. It has taken much longer for the poor market to catch up to us here in NE Oklahoma.