Davidson Realty, Inc.

Sherry’s Five Real Estate Facts For June 2009

August 17, 2009

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Posted by in Northeast Florida Market Trends

Each month the Northeast Florida Association of Realtors releases market statistics. I have pulled five of the most interesting facts from the month of June for you. To sum up the market, sales are better, closings are harder and prices are down.

1.  Pending sales increased 42.4% in June, 2009 over June, 2008.

We have seen a huge increase in home buyer activity in St. Augustine, FL. For several months, buyers were looking at homes but not making offers. At Davidson Realty we are seeing many more contracts written.

2.  Closings decreased 3.3% for the same period.

The buyers are getting homes under contract; however, the closings are taking much longer. It is taking longer for lenders to approve the buyer’s loan. There are more obstacles to closing a transaction, including new regulations that do not allow lenders to speak directly with appraisers. There are also many short sales where the homeowner owes more to the lender Read more

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