Home Sales – 1st Quarter 2011

In the graphs below you can see the comparison between February and March Home sales, with continued improvement in pending home sales. Using figures from Realtor we see the home sales for existing homes moved an annualized figure of 5.1 million homes. Predictions are that these figures will stabilize and rise based on investor confidence looking to hedge against inflation, rising rents, home values adjusting  and foreigners are continuing to invest in the market.

It is anticipated that more funding from banks will be available to assist home sales, as they have all posted profits this year, and the short sale process is beginning to improve and smooth out – with appraisals becoming less of an issue.

But is this the reality?

What Is Affecting Home Sales Now?

Boots on the ground indicate that jobs have not stabilized, not enough new job creation has happened to have a positive effect on consumer spending including home sales. Most of us are taking a beating at the gas pumps these days, with increased costs – at a time that America traditionally travels – the trickle down effect is being felt everywhere.

Right now as I write this, our government can not agree on a budget policy to deal with the astronomical debt burdening not just the federal level but state and local governments. These policy makers are making decisions that affect all of us and certainly home sales.

A Positive Impact On Home Sales

A positive action is to use the purchase lease options to help overburdened home owners get out from under their debt and for home buyers to have the opportunity to own their own home. Using a built in down payment plan those leasing to purchase will finally realize the potential of home ownership.

Related articles

• Realtors report Canadian home sales, prices up in June (ctv.ca)
• Tax Aspects of Home Ownership: Selling a Home (turbotax.intuit.com)
• Avoid The Most Common Buyer Errors by Bold Real Estate Group (boldrealestategroup.wordpress.com)

And remember buyers are ready but with tightening lending laws and requirements for stellar credit as well as much larger down payments, home sales in all of the traditional ways are stalling. Check out the information we have for your home sales.

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