Sunday, August 28, 2016

July Real Estate News

Today I emailed out to my clients my mid-year real estate update that talks about July numbers and how our local real estate market is fairing. Here is some of the information I shared:

The country saw existing home sales lose momentum in July as we continue to struggle with not having enough houses on the market for all the eager buyers who are looking. Despite fewer sales, median price rose 5.3% from the same time last year. In the Pioneer Valley, single family home sales dropped for the first time in 18 months as inventory continued to slide. Median price, however, rose 8.2% in July. As you can see, locally we are experiencing the same trends as the rest of the country.

While experts predict the year will end on a high note--thanks to a strong spring, the housing market is undershooting its full potential because we don't have enough houses to sell.

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