Sales Jump Noted - A Seller's Market?
The Market Island Area Association of Realtors® reported for Marco Island only property closed sales jumped 90.00% for single family homes January 2010 compared to January 2009. Closed total for all property types rose 100.00% in the same year-to-date comparisons.
Susan Ackerson, President, Marco Island Area Association of Realtors®, stated inventory levels for all property types is down from year ago levels by 14.23%. New listings coming on the market for all property types, Marco Island only, has decreased 24.58% from a year ago January to January comparisons.
Nationally, existing-home sales rose 5 percent in 2009, and December 2009 sales were 15 percent higher than December 2008. This suggests many areas around the country are showing glimpses of a balanced turnaround for sellers.
Housing inventories have steadily declined - an indication home prices in many areas have stabilized and could soon return to normal appreciation patterns. Buyers still have good choices but are purchasing near the bottom of the price cycle with historically low mortgage interest rates.
The first-time home buyer tax credit has also been a key motivator in moving sales along. In addition, current homebuyers who are in the market to buy a home can qualify for up to $6,500 if they have a contract in place by April 30, 2010, and close by June 30.
Realtors® Uniting For Haiti
The Haitian earthquake disaster prompted humanitarian outreach efforts all across the globe. The National Association of Realtors® Relief Foundation is contributing $550,000 to relief of victims of the Haiti earthquake, and is calling upon its 1.2 million members to help. Part of the contribution came from Lowe's, a partner of NAR's REALTOR® Benefits Program, who donated $100,000.