• Skip to main navigation
  • Skip to content
  • Skip to footer

Talk To Cathy Now!

Have a question? Give me a call at 239.821.7926, or you can click here for more options to call or email and I will contact you right away.

Marco Island Condos, Marco Island Real Estate, Marco Island Homes for Sale, Marco Island Luxury HomesMarco Island Condos, Marco Island Real Estate, Marco Island Homes for Sale, Marco Island Luxury Homes

Marco Island Real Estate

  • SEARCH
    • Join Deal Alert
    • Advanced Search
    • Newly Listed Homes
    • My Featured Properties
    • Upcoming Open Houses
    • Interactive Map Search
    • Search by Listing ID
    • Search by Address
    • My Favorites
  • CONDOS
    • Marco Island ALL Condo Directory
    • Beachfront Condos
    • Waterfront Condos
    • Golf Course Condos
    • Inland Condos
    • Gated Condos
    • Condos with a Boat Dock
    • South End Condos
    • Old Marco Condos
    • Luxury Condos
    • Water Direct Condos
  • HOMES
    • Beachfront Homes
    • Gulf Homes
    • Golf Homes
    • Inland Homes
    • Water Direct Homes
    • Water Indirect Homes
  • AREAS
  • MARKET REPORT
    • Current Market Report
    • What’s Your Home Worth?
  • GALLERY
  • RESOURCES
    • About Marco Island
    • Explore Marco Island Real Estate
    • Video Tour
    • Golf Courses
    • Attractions
    • Area Links
    • Churches
    • Dining
    • Videos
    • Mortgage Calculator
  • ABOUT
    • About Cathy
    • Client Reviews
    • “Women in Business”
    • Why List with Me?
  • BLOG
  • CONTACT
  • 239.821.7926
SearchClose

Existing Home Sales Slip 2% In May

Existing Home SalesHome resales slipped last month; a slight setback for the nation’s housing market’s recovery.

According to the National Association of REALTORS®, Existing Home Sales fell to 4.55 million units in May 2012 on a seasonally-adjusted annualized basis, representing a 2 percent drop from April.

An “existing home” is a home that’s been previously owned or occupied, and cannot be categorized as new construction.

Despite May’s retreat, however, as compared to last year at this time, Existing Home Sales by units are higher by 10 percent. In other words, like everything else in housing, the long-term statistical trend has been a positive one.

The housing market has seen its bottom and is finding balance.

Other data from the Existing Home Sales report includes :

  • First-time buyers accounted for 34% of all purchasers, down from 35% in April
  • Real estate investors accounted for 17% of all purchasers, down from 20% in April
  • Cash buyers accounted for 28% of all purchasers, down from 29% in April

In addition, distressed sales accounted for 25% of all sales in May, down from 28% in April.

“Distressed sales” include the sale of homes in various stages of foreclosure, and of short sales. This is the smallest percentage of homes sold in a “distressed” status since the real estate trade group began tracking the data in 2008. 

And, lastly, home supplies rose by 0.1 months to 6.6 months nationwide in May. This means that, at the current pace of sales, the complete U.S. home resale inventory would be sold out before the end of 2012.  A 6-month supply is widely believed to represent a market in balance between buyers and sellers.

There are now 2.49 million homes for sale — a 20% reduction from May 2011.

Home resales may have slipped last months but volume remains brisk nationwide. All-time low mortgage rates and high home affordability are keeping buyers in the market. Home prices are rising in many U.S. cities as the housing market continues its slow, steady recovery. 

Posted in: Blog Tagged: Existing Home Sales, Existing Home Supply, NAR

Join Property Alert

Did you know the hottest homes for sale on Marco Island often sell within days of being listed? Don't miss out! Set up your own custom property alert so you can be notified of the newest homes as they hit the market! Simply click the button below and choose the qualities that you want most in a home and save your search to start getting alerts today!

JOIN PROPERTY ALERT

As a local Marco Island resident & Real Estate Agent I also have access to homes before they hit the market and can show you more homes and information that are only accessible in the MLS. If you would like to set up a time to go over your real estate needs, please free to contact me at your convenience. There is no obligation and or pressure... I hope to hear from you!

Post navigation

« How To Choose The Proper Paint Color(s) For A Room
New Home Sales Rise To 2-Year High »

Contact Us Now



239.821.7926

Cathy.Rogers@Sothebysrealty.com

760 N. Collier Blvd., #101,
Marco Island, FL 34145

Join Deal Alert

Get New Properties & Price Update Alerts sent straight to your inbox

Favorites

Login to manage your Favorites, Save Properties & Searches

Property Search

Find Condos using the most powerful Search tool in Marco Island

FREE Home Valuation

Find out the TRUE value of your condo and what other condos in your neighborhood are selling for

AREAS I COVER

34145, Condos, Beachfront Condos, Water Direct Homes, Marco Island Inland Homes, Water Indirect Homes, Marco Island Inland Condos, Golf Course Homes, Gulf Condos, Marco Island Golf Course Condos, Beachfront Condos, Tigertail Beach, Hideaway Beach Real Estate, Key Marco, Old Marco, Cape Marco, South End, River Area

Connect with Us

© 2021 · Cathy Rogers · 239.821.7926 · Privacy Policy · Marco Island Real Estate

Disclaimer - All Rights Reserved by Cathy Rogers, Premier Sotheby's International Realty, Licensed in Florida · Marco Island Condos & Homes for sale · Sitemap · IDX Sitemap · IDX XML Sitemap

Log in · Real Estate Website by Real Estate Websites by YourSiteNeedsMe.com