CONTACT

U.S. resale housing market posts some hopeful gains

Amidst a backdrop of crumbling credit markets and stock indices desperately looking for the bottom, the U.S. resale housing market showed some promising signs in September as existing home sales rose 5.4% over August and posted their first year-over-year gain in three long years. Nationwide, home sales rose 1.4% in September over the previous year.


The sales jump, which took economists by surprise pushed active listing inventories down by 1.6% and brought the second consecutive month of inventory declines. Still, a near 10-month supply of residential property is available for purchase across the United States.


Home prices continued to post losses and reached their lowest level since April 2004. The median price of a U.S. home fell to $191,600, down nine percent from one year ago.


According to a story in the Globe and Mail, Lawrence Yun, chief economist for the National Association of Realtors (NAR) attributes increased unit sales to a “rise in foreclosure and other ‘distress sales' in regions of the country hard-hit by the ongoing housing downturn.”


“In some regions, the lower prices are seeing buyers return to the marketplace,” he said. “This was a nice jump, and hopefully this trend can continue because the first step to stabilizing the market is an increase in home sales.”


Read the Globe and Mail story here. Read NAR’s media release here. See the current U.S. real estate stats here.


I’m always happy to answer your Saskatoon real estate questions.  All of my contact info is here. Please feel free to call or email.


Follow our daily updates on Twitter @SaskatoonHomes.


Norm Fisher
Royal LePage Vidorra

Norm Fisher, Author of the TeamFisher Saskatoon Real Estate Blog

About Norm

Licensed in 1993, Norm brings a wealth of experience to TeamFisher. He has worked in every imaginable capacity including sales agent, office manager, team leader, broker and now, broker/owner. Norm has written a weekly review of the Saskatoon real estate market for more than 650 consecutive weeks which may make him the most consistent industry blogger in the world.Less...

Licensed in 1993, Norm brings a wealth of experience to TeamFisher. He has worked in every imaginable capacity including sales agent, office manager, team leader, broker and now, broker/owner. Norm has written a weekly review of the Saskatoon real estate market for more than 650 consecutive weeks which may make him the most consistent industry blogger in the world.

Norm is known for his passion for technology and can most often be found exploring and experimenting with the next big thing in real estate marketing. He was the first Saskatoon real estate agent to promote a home online and has been an early adopter of new technologies ever since. “Everything about this business has changed over the past 20 years, and it will happen again in the next ten. An open mind and a curious attitude are all that’s needed to continue to find new ways to serve our clients by delivering a faster, smoother, worry-free transaction,” says Norm.

In his spare time, Norm enjoys Crossfit and cycling, some years accumulating over 2,000 kilometres on the road. He’s a strong supporter of the Royal LePage Shelter Foundation and enjoys raising funds by joining fun, fitness-related initiatives like the Grouse Grind for Shelter. In 2015, he trekked the Peruvian Andes to Machu Picchu. In 2017 he walked the southern highlands of Iceland across mountains, sand, snow, ice, lava fields and forest for seven days. Collectively those initiatives raised over a million dollars for Canadian women's shelters.
 

Subscribe to our Blog

Posts By Date
The Saskatchewan REALTORS® Association (SRA) (SRA) IDX Reciprocity listings are displayed in accordance with SRA's MLS® Data Access Agreement and are copyright of the Saskatchewan REALTORS® Association (SRA).
The above information is from sources deemed reliable but should not be relied upon without independent verification. The information presented here is for general interest only, no guarantees apply.
Trademarks are owned and controlled by the Canadian Real Estate Association (CREA). Used under license.
MLS® System data of the Saskatchewan REALTORS® Association (SRA) displayed on this site is refreshed every 2 hours.
Google Analytics Alternative