Last week we took a hard look at the local real estate numbers- now, let's get an update on what is happening nationally.
According to the National Association of Realtors:
  • Existing home sales from June to July rose 2% nationally. 
  • The year to year median in the US was up 17% 
The market continues to be quite competitive in the lower price ranges and less of a frenzy in the upper tier of houses. There were very few houses nationally (comparatively speaking) under $500k. Simply put, that means properties that would have been priced below that threshold have now been pushed upward past the $500K mark.
Looking at the appreciation nationally, NAR lists Pittsfield, MA as being the TOP metro area in the US for price growth in the second quarter. Wow!! The median existing-home price soared 47% to $321,000 there. I have mentioned Pittsfield in past blogs too. If you are working from home, why not do it from the Berkshires?
Next week school starts, and then we are into Labor Day. After that our secondary real estate market begins. It's a whirlwind of a market that peaks around Halloween, and quiets down through the holidays. Most of the buyers in the fall are in-town trade-up buyers who are not affected by a school schedule, and empty nesters or young families coming from the city. It will be interesting to see how many listings come on during this time. This week's inventory numbers around our area demonstrate that the housing demand is still high, and inventory is historically low. So if you are still wondering, I absolutely recommend getting your house on and reaping the benefits of this amazing market. 
Happy back to school, enjoy the end of summer and I'll be back next week!