Due to the current state of the real estate market, we on Long Island currently find ourselves in a depreciating market. Many are under the false assumption that homes just aren’t selling, and banks are not lending.
Recently, the National Association of Realtors (NAR) released their Existing Home Sales Report. According to the report, there are, on average, 12,109 homes selling in the United States EACH and EVERY DAY! That means approximately 12,000 houses sold yesterday, 12,000 will sell today, and approximately another 12,000 will sell tomorrow. So the thinking that homes aren’t selling just isn’t true.
Another interesting fact in the report was that 72% of these transactions were accompanied by a mortgage. That means that approximately 8,719 people qualify for a mortgage on a daily basis in this country.
There are over 12,000 homes sold and over 8,000 mortgages granted every day. The real estate market is doing better than many believe.
Recently, the National Association of Realtors (NAR) released their Existing Home Sales Report. According to the report, there are, on average, 12,109 homes selling in the United States EACH and EVERY DAY! That means approximately 12,000 houses sold yesterday, 12,000 will sell today, and approximately another 12,000 will sell tomorrow. So the thinking that homes aren’t selling just isn’t true.
Another interesting fact in the report was that 72% of these transactions were accompanied by a mortgage. That means that approximately 8,719 people qualify for a mortgage on a daily basis in this country.
There are over 12,000 homes sold and over 8,000 mortgages granted every day. The real estate market is doing better than many believe.
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