Pre-Owned Homes Sales Up
It seems that pre-owned homes are back in style, after taking quite a break last year. Sales of pre-owned homes jumped 12.3% in December according to the latest study by the NAR. They’re up in five of the last six months and reached a seven month high at 5.28 million units. NAR reports that they’re pleased with the numbers they’ve seen so far. They went so far as to float the word recovery (though I think we all know it’s a bit premature for that).
The NAR thinks this trend will continue this year and will level off at a nice, sustainable clip. This of course depends on a whole mess of factors, most notably, job growth and home prices. But assuming this year is a big turn around in economic prospects, it might come as a welcome relief to those short sale investors out there.
Distressed homes are still way up (over 35% of the market when last I checked). And investment in real estate is picking up. So if you’ve been sitting on the sidelines this whole time waiting for the right time to make a move in the industry, you’d be wise to make 2011 your year. Get moving now while you can still take advantage of low prices and huge potential.
I can’t get you up off the couch, but I can guide you once you’ve decided to take your first steps. So if you’re planning on getting in on the (new) ground floor, just give a holler and we’ll have lots to talk about.
