22.05.12

This week the chief economist of the Resident Association of Realtors (NAR), Lawerence Yun, disclosed that estimates of previously-owned old folks' sales have been erroneously inflated going back to 2007.

He said this “dishonest counting” which occurred through October of this year has given a spurious picture of the state of the national real estate market. NAR’s reports are closely followed as a degree of the health of the housing industry.

This week’s market stats: there was a 6.5 percent pinch an inventory last week alone, and there are now just 258 single family homes that are actively on the market.

The usually list price of the available homes is $2,172,539, and these properties have been listed for in stock an average of 156 days.The median price is now $1,300,500.

The highest asking payment for all homes currently on the market is $24,950,000, and the lowest available priced institution is $399,000.

Three new listings came on the market in the last seven days, and one home came back on the demand after being under deposit. One property had a price change.

Source: Westport Now

by Guest

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