US Housing markets continue without a pulse as new home sales came in below expectations at 298,000 in July, a 0.7% decline from a downwardly revised June measure, the Commerce Department reported Tuesday. It is not only below the market consensus forecast of 310,000, but it is the lowest level in the past 5 months.
The Existing Home Sales released last week came in at 4.67 million homes, much lower than expected, as well.
Considering the above, obviously the US Housing Market still is in distress. Therefore it is hard to sell a house right now.
In Brooklyn NY area, on the average, it takes 8-10 months to have property sold. However, there is always a way to sell your house quickly and get cash.
As local investors, We Buy Houses "As Is" All Cash and Close Very Fast. In many instances, we can close within 14 days.
For more info, please visit our website.
Please contact us for a FREE quote. 1-888-282-0423, Ext 1.
Friday, August 26, 2011
Tuesday, August 23, 2011
Exisiting Home Sales Unexpectedly Declined - Suggesting Even Weaker Housing Market
Sales of previously owned U.S. homes fell in July to the lowest level this year and prices also tumbled, a sign the housing sector won't soon regain its footing.
Existing-home sales declined 3.5% from a month earlier to a seasonally adjusted annual rate of 4.67 million, the National Association of Realtors said Thursday. Economists surveyed had expected home sales to rise by 4.0% to an annual rate of 4.96 million. Therefore it is a huge negative surprise.
Also, the housing prices are NOT Doing Well, either. The median price of an existing home in July was $174,000, down 4.4% from $182,100 a year earlier.
Economists say stronger income and job growth are needed to spur home buying and reduce the large inventory of foreclosures. But there is so much uncertainty in US economy that there is no recovery in sight at least for now.
In this declining housing market, it would be hard to sell a house. For example, in Brooklyn,it would take 8-10 months, on the average to have a property sold right now.
But if you are in a situation where you need to sell your house fast, there is still a way.
For more info, please visit our website and find out details...
Existing-home sales declined 3.5% from a month earlier to a seasonally adjusted annual rate of 4.67 million, the National Association of Realtors said Thursday. Economists surveyed had expected home sales to rise by 4.0% to an annual rate of 4.96 million. Therefore it is a huge negative surprise.
Also, the housing prices are NOT Doing Well, either. The median price of an existing home in July was $174,000, down 4.4% from $182,100 a year earlier.
Economists say stronger income and job growth are needed to spur home buying and reduce the large inventory of foreclosures. But there is so much uncertainty in US economy that there is no recovery in sight at least for now.
In this declining housing market, it would be hard to sell a house. For example, in Brooklyn,it would take 8-10 months, on the average to have a property sold right now.
But if you are in a situation where you need to sell your house fast, there is still a way.
For more info, please visit our website and find out details...
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