Tuesday, April 25, 2006

April Real Estate Market Beats Forecasts, Surprises Analysts

When the entire financial market thinks that real estate is slowing down, the real estate industry always seems to beat forecasts. Sales of existing homes rose 0.3% last month to a seasonally adjusted annual rate of 6.92 million units. According to the National Association of Realtors, the March increase followed a bigger 5.1% jump in February. The two months are the first advances after 5 consecutive months of decline.

What it means for the seller
Price your house according to market trends and you'll be able to sell.

What it means for the buyer
Don't expect for prices to come down any time soon. Buy now as the appreciation continues to climb. The median price of a new home rose to $218,000 last month -- that's a gain of 7.4% from a year ago. This is despite the slowdown in a lot of markets. Slow sales doesn't necessarily mean a drop in home appreciation.

What it means for the agent
Treat your customers with respect, buyer or seller, small or big properties.

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