Existing Home Sales Hit 3 Year High!

It was announced that sales of existing homes have hit a three year high. The National Association of Realtors reported that existing home sales increased 0.8 percent to an annual rate of 4.98 million units last month, the highest level since November 2009. The rise in sales is just one more indication that the housing market is in the midst of a strong recovery.

Realtor.com CEO Steve Berkowitz went on Fox News Thursday to discuss the current market and why speed is of the essence when you are shopping for a home today. “The shortness in supply makes our website and mobile apps more important,” said Berkowitz.  Some houses are coming on the market and leaving in the same day. “You are seeing the vitality of the market take place on our site and apps,” he added, noting that the site can update the home status before the agent has time to remove the “for sale” sign from the lawn.

There’s no question it’s a very busy time in the housing market and being quick and ready to move is very important. Home searchers leafed through billions of images on Realtor.com alone last month while looking for their dream homes. We’ve already predicted a busy home buying season and numbers like the one released by the NAR show that the trend is looking very strong.