Existing-Home Sales Jump to Highest Level Since 2009

From DS News

Existing-Home Sales Jump to Highest Level Since 2009 

Existing-home sales rose 0.6 percent in April to an annual sales rate of 4.97 million, the highest level since November 2009, the National Association of Realtors reported Wednesday. Economists had expected a 1.6 percent increase to 5.0 million from March's original report of 4.92 million sales. March sales were adjusted upward to 4.94 million.

The median price of an existing single-family home jumped 11 percent year-over-year to $192,800, the highest since August 2008.

 

-sunil

SUNIL SETHI REAL ESTATE

Sunil Sethi / Broker, President, REALTOR, MBA, CPA (inactive)
38750 Paseo Padre Pkwy Suite B3 / Fremont, CA 94536
Cell 510 388 2436 / Fax 877 437 9877  sunil@sunilsethi.com

www.sunilsethi.com  

CA DRE#: 01173766

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Economy expected to Reaceleate in the 2nd Half

From DS News

 

Fannie Mae: Economy Will 'Reaccelerate' in 2nd Half of 2013

Fiscal drags such as the sequester may have weakened economic momentum, but the economy should "reaccelerate" in the second half of this year as financial and housing conditions improve, according to Fannie Mae's Economic and Strategic Research Group. "Employment numbers are getting better, albeit it at a relatively slow pace, and the April employment picture should help boost consumer sentiment toward the economy overall," said Doug Duncan, chief economist for Fannie Mae. » Read More

 

- Sunil Sethi

SUNIL SETHI REAL ESTATE

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Zillow: Buying Beats Renting in 64% of Metros After 3 Years

According to Zillow, in 64 percent of U.S. metros, buying is more affordable than renting if homebuyers plan to stay in their home for at least three years. In several large metros, it would only take around two years before a buyer reached what Zillow called the "breakeven horizon," or the time it takes for buying to become more financially advantageous than renting. Out of the 30 largest metro areas, Zillow found Miami and Detroit had the shortest breakeven timeline of just two years in the first quarter. In New York, buyers would need to stay in their homes for 5.2 years before reaching the breakeven horizon. » Read More

 

- Sunil Sethi

SUNIL SETHI REAL ESTATE

Helping Families Find Homes with Great Schools in Fremont, Newark and Union City.

Property Search | Featured Listing | Neighborhoods | Home Value | School Score | Property Tax

   To access most updated listings on MLS from your phone, Download my FREE app from "My Mobile App".

   Love Us on Yelp!

 

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