Don’t read the headlines, call a Century 21 Scheetz Realtor! In today’s release on CNNMoney.com a review of today’s US Housing report is giving mixed signals. The 1st line reads: “The pace of previously owned home sales slowed slightly in September, even as the long-battered housing market showed signs of a broader recovery.” That sounds pretty dismal to most who would stop there, doesn’t it?
Read on and you will discover that those same figures are simply down from the month before but UP 11% from September of last year. That’s the kind of profit based reporting that makes me want to e-slap the author of the article.
Instead of the chosen “Homes slowed in September,” the headline should really read, “Home sales UP 11% from last year, market holds a lot of opportunities for many!” It doesn’t so we have to be our own advocates spreading the word that we, at the local level, are the most appropriate source of guidance to buyers and seller in today’s market.
On a different note, the sellers of a recently sold $450,000 home are profiled in the article’s video. The featured Realtor is a Century 21 agent in California and really shows the value of the Century 21 brand to these homeowners. View the video here.
Michael Gapen, an economist with Barclays Capital says “(Their) view is that housing is in a recovery phase,” and that, “The report is encouraging despite the modest monthly decline.”
There are far more positive observations than negative by far, including everything from record low mortgage rates fueled by a $40,000,000,000 QE3 investment and stable but record low housing prices to decreases in unemployment and foreclosures (foreclosures as a part of the market are down from 30% to 24%). New home sales are up to a 4 year high and owning a home makes more financial sense than renting for almost all.