Has the housing recovery come to a screeching halt?
Naysayers are claiming that rising mortgage rates and a lack of consumer confidence are keeping Americans on the fence when it comes to purchasing real estate.
That is actually far from reality.
After all, 12,575 houses sold yesterday, 12,575 will sell today and 12,575 will sell tomorrow. 12,575!
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.
According to the report, annualized sales now stand at 4.59 million.
Divide that number by 365 (days in a year) and we can see that, on average, over 12,500 homes sell every day.
If you are considering whether or not to put your house up for sale, don't let the headlines scare you.
There are purchasers in the market and they are buying - to the tune of 12,575 homes a day.
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Jim Starwalt, Real Estate Broker
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The 2014 Housing Recovery