NAR Report Says Real Estate Sees 3-Year High

According to the National Association of Realtors, existing home sales across the United States have reached a three-year high. This trend is also present among real estate in Encinitas, where inventory on existing homes is down more than 50% from 2 years ago.

Sales of previously occupied homes saw an increase in February with many people putting their homes on their market only to have them quickly bought up, leading many experts to believe that Americans are positive about the strength of the housing recovery.

From January to February 2013 sales increased 0.8% to achieve a seasonally adjusted annual rate of 4.98 million, the fastest sales pace since November 2009. Not only did sales increase, but so did the average sales price, which was 11.6% higher in February 2013 than the same month one year ago.

Typically the winter months such as January and February see less real estate transactions with sales beginning to pick up in March and peak in April and May and stay strong through June and July. With the market seeing increased prices and sales in the slower months it bodes very well as we head into the peak months of real estate transactions.

Keeping in mind that the peak time for real estate is quickly approaching, it is a good idea as someone looking to buy or sell a home for sale in Encinitas to get it listed or begin your search immediately. Contacting a real estate agent in Encinitas to begin the process is the first step, so call me at 760-310=0234.

By Linda Moore

 

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