Existing home prices continue to edge up across the country, but sales are not keeping pace. The key indicators for the housing market according to the National Association of Realtors or NAR that were derived from the latest data are:
- Home Prices. In September, the median price rose nationally for an existing home was $199,200, up 11.7 percent from a year ago. Home prices have had 10 consecutive months of double-digit year-over-year increases.
- Home Sales. Sales of existing single family homes dropped 1.5 percent to a seasonally adjusted annual rate of 4.68 million.
- Distressed Homes. Foreclosures and short sales accounted for 14 percent of September sales. That's up 12 percent from August. However, a year ago distressed homes made up 24 percent of the market.
- Inventory. Housing inventory in September held steady at a 5-month supply at the current sales pace.
- Days on Market. The median time on the market for all homes was 50 days in September up from 43 days in August but down from 70 days a year ago.
For information on your community or to find out the current value of your property please contact Kevin Aizenshtat, Realtor, with Gulf Coast International Properties at 239-777-1451
or email at firstname.lastname@example.org