According to RIS Media and NAR -Existing-Home Sales Down in January 2010 but Higher Than Year Ago
RISMEDIA is quoted," March 4, 2010-Existing-home sales fell in January 2010 but are above year-ago levels, according to the National Association of Realtors. Existing-home sales- including single-family, townhomes, condominiums and co-ops- dropped 7.2% to a seasonally adjusted annual rate of 5.05 million units in January from a revised 5.44 million in December, but remain 11.5% above the 4.53 million-unit level in January 2009."
Homes sales in Jackson county were up from 126 in Feb 2009 to 130 Feb 2010. Although not a huge gain, it was a gain. The average price was down from $269,000 to $220,000 for this same month to month, but the rest of 2009 held steady hovering around the $220,000 range showing that prices have somewhat stabilized.
Also accooring to report released by RIS media -"Lawrence Yun, NAR chief economist, said there is still some delay between shopping and closing that affected current sales. "Most of the completed deals in January were based on contracts in November and December. People who got into the market after the home buyer tax credit was extended in November have only recently started to offer contracts, so it will take a couple months to close those sales," he said. "Still, the latest monthly sales decline is not encouraging, and raises concern about the strength of a recovery."
You can hear more from Yun on April 23, 2010, at the Ginger Rogers Theater in Medford.
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