Glad to have you here with me.
This morning, the New Residential Sales figures were released for this past April, and there has been a nice bump over the past month in the sales of new one-family homes, specifically 7.3% above March. Over the longer term (since April 2010), there was a drop of over 23%. Does this come as a shock?
According to 3 separate sources, not really, as they all cite low inventory as the common denominator.
Barry Goodhart, a Property Manager, says that there is "less inventory for buyers to choose from", and thus, "The decrease in new houses coming on the market should help support".
Ken Pozek, a residential real estate agent in Suburban Metro Detroit, says that they are having an "Amazing" sales year, and that, "low inventory is making this a crazy market!"
Finally, Ken Koenen, LLM Attorney at Law, says that he has, "little faith in the numbers provided.", and that, "too much inventory is owned by the banks", and that, "they are controlling the market place at their whim."
What are your thoughts? Were you happy about the increase over last month? Concerned over the big drop from last year? We'd love to hear from you.
Have a Great Week, and Happy Rent-to-Owning !
Regards,
Rob Eisenstein
HomeRun Homes Blog http://blogging.lease2buy.com
HomeRun Homes Website http://www.lease2buy.com
TAGS: #residential #homes #propertymanager
