Luxury Valley Homes Arizona Real Estate Blog

Number of Homes Sold: Yesterday - Did Yours?

Number of Homes SoldNumber 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 not priced properly.

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 that sell 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: Definately Not

Comment balloon 0 commentsJane & Jeff Daley, PhD • September 05 2016 09:52AM
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