Existing home sales improved last month and remain solidly above a year ago, according to the NRA (National Association of Realtors). Total existing home sales, which are completed sales rose to a seasonly adjusted annual rate of 5.18 million in May. That number was 4.97 million in April, and is 12.9 percent higher than the 4.59 million unit paced experienced May 2012.
May existing home sales numbers are at the highest level since November 2009, when buyers were eager to rake advantage of the tax stimulus. The NRA noted that the median price of existing homes continued to rise by double digit rates, year over year
NAR Chief Economist Lawrence Yun says that, "While the demand is high, the number of homes available for purchase is unlikely to rise anytime soon. The housing numbers are overwhelmingly positive. However, the number of available homes is unlikely to grow, despite a nice gain in May, unless new home construction ramps up quickly by an additional 50 percent. The home price growth is too fast, and only additional supply from new home building can moderate future price growth".
Author:Mike Siers Phone: 252-489-3861 Dated: June 24th 2013 Views: 5,269 About Mike: Mike Siers is in the top 1% in the Nations top Privately owned Real Estate company, Howard Hanna. W...
About Outer Banks Real Estate Mike and Stacy Siers Howard Hanna
We could give you the scripted bio, but it is the age of Google. Believe me when I say if you are online, you can be found. I want to tell you what you may not know.
Stacy and I have been together for most of our lives. We enjoy being around each other so much we work together. I like to say she keeps me balanced. I have been fortunate to work for many people and companies throughout the Mid Atlantic region and feel that experience has helped me understand people and situations. I have been doing sales for about 20 years, construction during 10 of those years and have managed a few companies along the way. Stacy, operated a HVAC company, managed retail and restaurants. Stacy started in Real Estate in 2008, not the best time if you dare to remember the real estate crash. She motivated me to get my license in 2009 and I started in 2010. I looked at the bad real estate market as an opportunity. A time to learn the market from the bottom up. A time to learn how to sell real estate when no one could buy it. In one of my past jobs, I learned the who, what, whens and hows of sales. I could move products! When I bought my first house out of college, I learned this was one of the most important purchases I would ever make. So when we work with clients, it is about them. We want to know why you are looking, how you want to use the house or what you are selling. What memories you have made from this house. We believe real estate is about people and relationships. We are fortunate to build friendships through real estate. It usually means we go to a lot of dinners in the summer when folks are down. (I really love that part)
The wrap up, Stacy and I won't sell you a house on The Outer Banks of North Carolina. We will work with you, share our knowledge, provide facts and dig for information on every home you are interested in and hopefully grab a bite to eat and share the memories you are making!
We wanted to personally thank you for the great job you did helping us find and purchase our new Outer Banks beach condo. From the minute we inquired on line you were so quick and willing to assist us. Thank you for showing us the right properties and guiding us to stay away from properties that would have resulted in a maintenance nightmare for us. Thank you for fighting to help us get the best price possible. Thank you also for assisting with getting our utilities set up, taking care of our inspection and every detail of the closing. It was extremely comforting knowing that you had our best interest in mind and worked so hard to ensure that we got the best deal possible. Never once did you take more than a few minutes to respond to our texts and emails. We were so impressed and blessed by your honesty, integrity, expertise and strong knowledge of properties in the Outer Banks and how you went out of your way to make us feel like we were your only customer. I would strongly recommend you to anyone looking to purchase property in the Outer Banks. But I would especially recommend you to anyone who is purchasing remotely from another state. With only two very short trips to NC from VA we were able to view properties, make offers and negotiate, then complete closing all remotely. Thank you
Lana & Donny Shelley.....July 2017"