After an unprecedented 17 month recession in the housing market, it seems that we are finally seeing signs of stabilization.

Homes for a Song.

Sales of existing, single family homes rose 2.9 percent in April, signaling that the 3 year housing crash may finally be reaching a bottom, especially for homes priced under $750,000.

“Most of the home sales are taking place in the lower price ranges and activity is beginning to pick-up in the mid-price ranges, but high end home sales remain sluggish,” said Lawrence Yun, chief economist for the National Association of Realtors.

In April the median national home price fell another 15.4 percent to $170,200, compared with sales in April 2008.  Distressed property accounted for 45 percent of all sales in April, which distorts the median home price.

The market for houses priced at $750,000 and over showed the most weakness across the board.  While the inventory of less expensive homes is around 9 months, the inventory for high end homes is 40 months…Yes, you read that right…40 months.

If you have a property to sell, Why 6 Percent can help you with a marketing program that reaches 10 million buyers each month.  The cost for the program is only $399, far less than any other form of advertising.   For details about your specific area call 1-800-381-9496!