Pending home sales are going down very early in the year for the first time in a few years, but not because of lack of buyers, but because of lack of inventory. Not as many people are selling their homes than there are buying homes. Homes sales are going down in every region at a national average of 3.3%. This, again could be fixed with more inventory.

This chart shows the Distressed Property sales throughout the last five years. As you can see, it has been dramatically dropping down to as much as 5%. This effects home prices by bringing them up. The lack in inventory is being made up in home prices going up. Prices are going up at an average of 6% across the nation. According to the association of realtors, in most of the country the seller…

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This image show the variation in market prices throughout yearly changes. Divided by states, this allows you to see exactly how much the market has changes since the last year. For example you can see that most states had a change as much as over 3%. Over the course of the country the increase is an average of about 6%, which is a dramatic jump from the historic norm of about 3.6%. this chart helps focus on each region to show how each area specifically changed.Using the MLS system you are able to specify this number by your own market. Seeing these increases, and more areas being increased by the month, if you are thinking about buying a new house or a second property, now is the time to do so before prices increase even more. The states where sales are…

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The average number of days houses are typically on the market is now about 34 days. With this chart you are able to see what range your region is in. Also, making sure to check up on your current market, making sure you know what kinds of houses are being sold in these areas affecting how long they are on the market for. This is because of the amount of buyers there is for one house. The market is being affected by the lack of sellers in the market and the increase of buyers in the market. You can read more about this here.

 

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