News & Blog

REALTOR® Magazine: Existing-Home Sales Surge to Record Pace in June

Jul 27
June 2020 Sales Trends.
In a recent online article REALTOR® Magazine discusses how home sales rebounded to record numbers during the month of June. Evident in the month-over-month increases across the four major regions of the U.S., the total number of existing-home sales increased 20.7% from May. Though this increase is drastic from May to June, sales are down 11.3% from a year ago.
Despite the effects of the COVID-19 pandemic, Lawrence Yun, NAR’s chief economist, states that, “The sales recovery is strong, as buyers were eager to purchase homes and properties that they had been eyeing during the shutdown.” Yun also predicts that this recovery has long-term sustainability due to continually low mortgage rates and job gains.
Despite this trend, housing inventories have tightened down even further, with inventory levels falling 18.2% in June, compared to a year ago. Low inventories continue to affect home prices, and according to Yun, “Home prices rose during the lockdown and could rise even further due to heavy buyer competition and a significant shortage of supply.”
To learn more about NAR’s key indicators for our current market or to see a more thorough regional breakdown of sales, view the original posted article here.
  • Featured image for Fort Wayne REALTOR®: 18811 West Road, Huntertown, IN 46748
    Jul 27

    Fort Wayne REALTOR®: 18811 West Road, Huntertown, IN 46748

    Stunning, 2-year-old, lofted ranch on 2.4 acres in Huntertown! At over 2400 square feet, this custom built home was thoughtfully designed and tastefully decorated right down to the 1890's barn beam fireplace mantle. The 10 ft high ceilings welcome you into this open concept ranch that allows you to enjoy the cozy wood-burning fireplace w/...

  • Featured image for Fort Wayne REALTOR®: 1751 Talons Reach Cove, Fort Wayne, IN 46845
    Jul 27

    Fort Wayne REALTOR®: 1751 Talons Reach Cove, Fort Wayne, IN 46845

    Pride Of Ownership Found In This Custom Build. Split 3 Bed 3 Bath Open-Concept Ranch w/Serene Water View, Fenced In Backyard and 16x11 Covered Patio w/ Additional 16x10 Patio Slab! Built w/ Pride By Majestic Homes, The Nora III Features Quartz Counter Tops, Large Pantry, Staggered Custom Cabinets w/ Crown Molding, Tiled Backsplash, Frigidaire Gallery...