For the 10th consecutive month in 2013 sales have outpaced those for the same period in 2012 by double digits. The nearly 1,300 houses sold thus far this year is a high water mark for recent years since the housing bust of late 2008.
In fact, total sales in 2013 are double digits ahead of the total generated in the first 10 months of 2012. Houses less than $150,000 accounted for 61% of the sales, while sales of those priced above $400,000 posted the largest percentage gain.
In addition to sales being strong all year, transactions under contract, but not yet closed, were increased over last year’s market performance by a larger percentage than sales increased. Of course this is a very healthy indicator of a vibrant, robust and stabilizing market, and points to good things to come.
Following are a couple of facts about the market’s impact and future performance. According to the National Association of REALTORS® our 1266 sales:
- Have created more than 600 jobs
- Over time will add between $25-$50 million into region’s economy
Plus the highly respected Kiplinger letter reports:
- $1.30 to $1.80 of economic activity from every $1.00 of housing sales
- The market will remain strong for several years because of pent up demand demonstrated by 800,000 young adults, who were living at home during the recession, are now entering the market to buy or rent their own house.