Contact:Â Loriann Harrison
Phone:Â Â 954.237.0713
Fax:Â Â 305.851.4077
Email:Â Â Loriann@LMHLuxuryGroup.com
Website:Â Â www.LMHLuxuryGroup.com
May 23, 2012
NAR Announces Official Housing Market Comeback
Total existing home sales in April - including single-family homes, townhomes, and condominiums - increased 3.4 percent from March to a seasonally adjusted annual rate of 4.62 million.Â Â This is a 10.0 percent improvement since April 2011.
Single-family sales increased 3.0 percent - from 3.97 million in March to 4.09 million in April.Â This annual rate of sales is 9.9 percent higher than it was in April 2011.Â Condo and co-op sales increased 6.0 percent from 500,000 in April 2011 to an annual rate of 530,000 in April 2012.Â
NAR chief economist Lawrence Yun said,Â "It is no longer just the investors who are taking advantage of high affordability conditions.Â A return of normal home buying for occupancy is helping home sales across all price points, and now the recovery appears to be extending to home prices. The general downtrend in both listed and shadow inventory has shifted from a buyers' market to one that is much more balanced, but in some areas it has become aÂ seller's market."
One area that has become a sellerâ€™s market isÂ Broward County, Florida.
In addition to an increase in home sales, we are also seeing an increase in median sales prices.Â Â The national median existing-home price for all housing types jumped 10.1 percent from April 2011.Â Â This alone is substantial, but when following a 3.1 percent annual improvement in March, it becomes even more indicative of a consistent improvement trend.Â Â
"This is the first time we've had back-to-back price increases from a year earlier since June and July of 2010 when the gains were less than one percentâ€¦ For the year we're looking for a modest overall price gain of 1.0 to 2.0 percent, with stronger improvement in 2013."Â Yun said.Â
If you have been waiting for the value ofÂ real estate in Broward CountyÂ to improve before selling your luxury home, then you donâ€™t need to wait any longer.Â Â The current housing climate has created a great window of opportunity for homeowners who want toÂ sell a luxury home in Broward County, Florida.Â
If you would like a complimentary and confidential consultation regarding your luxury homeâ€™s market value, contactÂ Loriann Harrison.Â Â As a member of the prestigious Institute for Luxury Home Marketing,Â Loriann Harrison - Managing Director of the LMH Luxury GroupÂ - possesses extensive knowledge and critical analytical skills for todayâ€™s luxury real estate market.Â Â These traits are essential in ensuring that every client has as unique an experience as the property being listed.Â
The LMH mission as a local real estate economist is to assist clients in gaining both insight and perspective on an extraordinary housing market.Â Â As a result, clients are well equipped to make informed and intelligent decisions that will best suit their personal real estate needs.Â Â LMH constantly strives to exceed expectations through innovation, dedication, integrity, and expertise inÂ Broward County, FL.
Be sure to follow Loriann Harrison online:
LMH Real Estate on Twitter