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Existing-Home Sales Up in 2010
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The National Association of Realtors® (NAR) reported a year-over-year increase for existing-home sales in June 2010. Many home buyers are taking advantage of record-low interest rates and the market continues to register residual activity from home buyers tax credit.
According to the June report, existing-home sales are on pace to reach 5.37 million units for the year, up 9.8 percent over June 2009. Despite the annual increase, markets saw a slight drop compared to may activity. Lawrence Yun, NAR chief economist, said these swings are understandable. "June home sales still reflect a tax credit impact with some sales not closed due to delays, which will show up in the next two months," he said.
Freddie Mac surveyed lenders in June and reported record low commitment rates for 30-year, conventional fixed-rate mortgages. Mortgage rates dropped to an average of 4.74 percent, down significantly from 5.49 percent offered in June 2009.
NAR President Vicki Cox Golder says small fluctuations in the market are expected. "Conditions have become more balanced in much of the country, which is good for both buyers and sellers. However, consumers find it even more challenging to navigate the transaction process, especially for distressed properties, which only underscores the value Realtors® bring to buyers and sellers in this market." |
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Bob & Norine Sokoler have bought and sold homes for more than 25 years in cities all over the United States. Known locally as a technology expert, Bob combines his love of real estate with technology and prides himself on being on call 24 hours a day.
Bob is happy to announce that he is also a licensed agent in Indiana. With a larger market to work with, he is now able to help even more buyers and sellers with their real estate needs. Bob's office, RE/MAX Properties East, is the highest producing office in Kentucky and among the top 10 offices in the United States.
In addition to reporting and anchoring TV news reports, Bob has been buying and selling homes while moving around the country for almost 25 years. From Flint, Michigan to Salt Lake City, Utah to Baltimore, Maryland to Orlando, Florida to Atlanta, Georgia to finally Louisville, KY. Bob has seen the best and worst in real estate transactions and strives to be part of the process that helps buyers and sellers have an enjoyable experience.
In his spare time Bob hosts a weekly talk show "Kentuckiana 2 Day" on Insight Cable (ICN2). Keeping active in the Louisville media and his visibility in the community helps Bob stay in contact with thousands of people every day. |
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