Existing Home Sales Up In May

Existing Home Sales Up In May

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".

Mike Siers Headshot
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...

Property Search

RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Recent Blogs

Jul 20 2018 3605 1 - The time to buy is NOW !!! Ask me
Dare County NC Flood Maps - https://www.darenc.com/departments
July 30 Wicked Tuna Outer Banks - http://outerbanksvideos.com/wicked
2017 Beach Nourishment Schedules - Projected 2017

Our Bloggers

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

Outer Banks Real Estate Mike and Stacy Siers Howard Hanna
3928 N Croatan Hwy
Kitty Hawk, NC