New homes sold at a seasonally adjusted annual rate of 372,000 in July, according to the Commerce Department.
This is 3.6 percent above the rate a month ago just a bit higher than economist expectations.
However, sales remain well below the annual pace of 700,000 that economists consider healthy. As a matter of fact, it is now about half that level.
On top of that, The median price for a new house decreased 2.5 percent in July from the same month last year, to $224,200.
In the still weak housing market, it is hard to sell your house quickly, especially in the Bronx and Brooklyn where foreclosures are flooding into the market.
However, there is always a way to Sell Your House Quickly for CASH. For more details, please visit our main website.
Sunday, August 26, 2012
Sunday, August 19, 2012
US Housing Market is Still Shaky, No Solid Recovery in Sight...
US Housing Starts fell 1.1% in June, to an annualized rate of 746,000 units, Commerce Department said Thursday.
The results were weaker than forecast. Economists had expected about 763,000 Units, therefore it was much lower than the forecasts.
“While the housing market is heading in the right direction, there'll still be a lot of roadblocks on the way," a real estate professional in Brooklyn NY said.
With so many houses being behind on payments, they are on the verge of being foreclosed. Therefore, therefore a lot of REO inventories (Bank owned properties) may flood the market in the future.
In this kind of environment, it is hard to sell your house. Sometimes, in the local NY areas, it takes 9-10 months to have a property sold on the average.
However, there is still a way to sell your house quickly for CASH. For more info, Please visit our main website at WeBuyHousesBrooklyn4Cash.com
The results were weaker than forecast. Economists had expected about 763,000 Units, therefore it was much lower than the forecasts.
“While the housing market is heading in the right direction, there'll still be a lot of roadblocks on the way," a real estate professional in Brooklyn NY said.
With so many houses being behind on payments, they are on the verge of being foreclosed. Therefore, therefore a lot of REO inventories (Bank owned properties) may flood the market in the future.
In this kind of environment, it is hard to sell your house. Sometimes, in the local NY areas, it takes 9-10 months to have a property sold on the average.
However, there is still a way to sell your house quickly for CASH. For more info, Please visit our main website at WeBuyHousesBrooklyn4Cash.com
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