Existing Home Sales Improving?

According to the National Association of Realtors, existing home sales are 13.5% about October 2010 numbers. Also, the total number of homes on the market hs continued to decline. According to the chief economist for NAR, these numbers would be even greater if the number of contract failures due to declined mortgage applications was lower. Consumers could increase their odds of obtaining a mortgage by realizing how the credit scores effect their purchase. If you want to get a mortgage, do not buy a car, take on any installment debt and pay your bills on time. This maintains a positive trend in home sales , most markets have an average of an 8 months supply of inventory , this is down from an 8.3 months supply in September.

All cash sales account for approximately 29-30% of the market share, first time home buyers areapproximately 34%. This leaves the remaining home buyers as second time purchasers and investors. Foreign investors are returning to the Florida market with a major surge in the condo market. With this slow and steady positive sign towards a recovering real estate market 2011 should be an even better year for sales.

If you or any one you know is looking to purchase a home in St.Johns County Florida, please visit my website at www.bethruggeri.com. Find out why so many customers have counted on me for over 25 years in St.Augustine. Search the mls for current listings in St.Augustine.

Beh Ruggeri

Broker Associate Watson Realty Corp.

1-904-808-6476

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