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Location: Mars Hill, NC, United States

A small, highly personalized real estate firm specializing in mountain homes and land in greater Asheville.

Wednesday, June 24, 2009

Existing Home Sales, May 2009

Reported yesterday with headlines such as, May Existing Home Sales Continue Rising Trend, or similar ones at Yahoo News, as a sign of stabilization.

The headlines compare May with April, 2009. A number of articles noted it was the third consecutive month of increases. One has to dig a little to see that existing home sales were around 3.6% less than 2008, and that sales rising over the previous month is the norm at this time of year.

The Context
The headlines might be called misleading because 33% of sales are distressed/foreclosed properties, the implications of that are obvious on the numbers. Maybe more important, certainly more basic, is that sales always rise from January though the summer, click for a great chart and commentary that demonstrate typical seasonality in real estate.

Oh would that it were different but from our perspective May was consistent with recent patterns, still down on a year to year basis, though by less.

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Black Bear Realty Website
828 689 2055
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Filed Under: Real Estate Statistics and Data

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