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Home Sales Fall

According to the National Association of Realtors, sales of existing homes recently declined 0.8% in the month of June… to the lowest level in the past seven months. Compared to the same month last year, home sales declined by 8.8%. If the pace continues for the rest of 2011, this year might become the year we have the fewest sales of existing homes in 14 years. The National Association of Realtors says that the percentage of first-time homebuyers declined to 31% compared to last year’s 43%. Some people, including potential homebuyers and lenders, fear that home prices are and will still decline. There’s a lot of cancellations of contracts, but tight credit and low appraisals also don’t help the market. 16% of NAR members say that home sales contract were canceled in June alone, which is a 4% increase from the month before. Accurate appraisals are also hard to get because of all the distressed properties so many potential homebuyers stop themselves from buying the house after they find out it’s worth than the price tag. However, in certain areas, home sales have gone up compared to June 2010. These locations include Miami- Fort Lauderdale, Phoenix, Atlanta, Dallas-Fort Worth and San Antonio.

If you’re part of the few that have taken advantage of the low home prices of this economy, call the Salt Lake City movers for professional help on moving day. We’re backed by four generations of All My Sons Moving and Storage movers and have a solid reputation among repeat customers and within the moving industry. When our Salt Lake City local movers help you move into your new home, you can expect us to quilt pad wrap your furniture as well as help you disassemble and assemble your household items. For an easy move, you can trust All My Sons of Salt Lake City.

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