Category: Market Observations
Posted: 4/7/2012
NAR statistics consistent with auction results
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The National Association of Realtors is reporting a sharp jump in the sale of investment and vacation homes in 2011. According to NAR’s press release, investment home sales were up 64.5 percent, and vacation homes rose 7 percent.

Homes occupied by owners fell 15.5 percent, however, according to NAR.

These numbers track pretty well with what we’ve been seeing in our recent sales. We had a record year in 2011, and we’ve already gotten off to a strong start with sales for banks and the FDIC. In February, we sold 455 bank-owned properties in a series of four events over a couple of days.

There’s no doubt in my mind that we’ve turned the corner, and people who understand real estate realize that prices can’t fall much lower. In fact, those who choose to wait now may find themselves paying more later.
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