Luxury Valley Homes Arizona Real Estate Blog

Homes Sold: Yesterday - Did Yours? - ScottsdaleRealEstateArizona.com

Homes SoldHomes Sold - There are some homeowners that have been waiting for months to get a price they hoped for when they originally listed their house for sale. The only thing they might want to consider is... If it hasn't sold yet, maybe it's not priced properly.

Homes Sold

After all, 14,767 houses sold yesterday, 14,767 will sell today and 14,767 will sell tomorrow.

That is the average number of homes sold each and every day in this country, according to the National Association of Realtors’ (NAR) latest Existing Home Sales Report. NAR reported that sales are at an annual rate of 5.39 million. Divide that number by 365 (days in a year) and we can see that, on average, over 14,767 homes sell every day.

The report from NAR also revealed that there is currently only a 4.7-month supply of inventory available for sale, (6-months inventory is considered ‘historically normal’). This means that there are not enough homes available for sale to satisfy the buyers who are out in the market now in record numbers.

Bottom Line

We realize that you want to get the fair market value for your home. However, if it hasn't sold in today's active real estate market, perhaps it could be associated with your asking price.

Keep in mind that this is a National Report and the sale of real estate is geographically sensitive. Your local REALTOR® is your best advocate on market pricing. They are experts in your local market and have your fiduciary responsibility first and foremost.

People that read this article also read House Bubble: Definitely Not   This page is on the article of Homes Sold: Yesterday - Did Yours?

Comment balloon 1 commentJane & Jeff Daley, PhD • September 17 2016 10:26AM
Homes Sold: Yesterday - Did Yours? - ScottsdaleRealEstateArizona. com
share
Homes Sold - There are some homeowners that have been waiting for months to get a price they hoped for when they originally listed their house for sale. The only thing they might want to consider is… If it hasn't sold yet, maybe it's not priced… more
2nd Amendment: Should it be Protected? - Supreme Court May Say No
share
2nd Amendment: This is a topic that has been of interest over the past few years and we find that today it is more important than ever. While vacating the 2nd Amendment would require the other 50 states to agree it can and has been attack on several… more
Baby Boomers: Finding Freedom In Retirement - WinfieldEstates. com
share
Baby Boomers - Within the next five years, Baby Boomers are projected to have the largest household growth of any other generation during that same time period, according to the Joint Center for Housing Studies of Harvard. Let’s take a look at why…… more
Number of Homes Sold: Yesterday - Did Yours?
share
Number of Homes Sold - There are some homeowners that have been waiting for months to get a price they hoped for when they originally listed their house for sale. The only thing they might want to consider is… If it hasn't sold yet, maybe it's… more
Paperwork Mass: Why So Much Paperwork to get a Mortgage
share
Paperwork Mass - We are often asked why there is so much paperwork mandated by the bank for a mortgage loan application when buying a home today. It seems that the bank needs to know everything about us and requires three separate sources to… more
Real Estate Values: Today Compared to Pre-2008 Peak
share
Real Estate Values - This housing market has many people talking about home values; where they are and where they are headed. It’s also interesting to look back and see how home prices compare to values prior to the housing crisis. Every quarter,… more
Luxury Home Sales: The Impact of The Stock Market
share
Luxury Home Sales - In a recent article, CoreLogic looked at the correlation between stocks and the sales of upper-end properties ($1 Million plus sales price). The report revealed: “ The powerful ‘wealth effects’ generated by the rapid rise in… more
Mortgage Myths: 2 That May Be Holding Back Buyers – Scottsdale Homes
share
Mortgage Myths - Fannie Mae’s study revealed that Americans are misinformed about what is required to qualify for a mortgage when purchasing a home. ¹ Breaking The Mortgage Myths Fannie Mae Key Survey Findings There is a significant lack of… more
Bang for Your Buck: States That Give You More For Less
share
Bang for Your Buck Highlights from Graphic Thinking of moving across the country? How far will your money take you? The majority of states in the Midwest and South offer a lower cost of living compared to Northeast and Western states. The ‘Biggest… more
Your Home Equity: How Does Rising Prices Impact It?
share
Your Home Equity - Yesterday, we shared the results of the latest Home Price Expectation Survey by Pulsenomics. One of the big takeaways from the survey is that over the next five years, home prices will appreciate 3. 5% per year on average, and… more