NAR Reports U.S. Existing-home Sales Slumped 3.2 Percent in January – Not to Worry
National real estate stats are interesting, but they don’t mirror the local Flagler/Palm Coast market where January sales have been lower than December sales in 13 of the past 15 years.
PALM COAST, FL – February 22, 2018 – The National Association of Realtors® reports U.S. existing-home sales slumped 3.2% in January. NOTE: 3.2% month-over-month is not a “slump.” It’s a minor statistical deviation. Both words and numbers can be, and often are, misused.
Month to month comparisons are affected by seasonality. Each local market has its own seasonal rhythm. In Flagler County, January home sales have been lower than the previous month (December) home sales in 13 of the last 15 years.
The chart shows that the six months from March through August are the best months for home sales. The seasonality remained consistent throughout the housing bubble and the crash. A signed contract represents a moment in time, indicating the value of that home on the contract date; a meeting of the minds between buyer and seller. Both NAR and GoToby.com report closings, not contract signings so there is a 30 to 60 day lag between the "sale" and the reported closings
The average number of homes sold monthly in 2017 was 194 homes. Over 200 home sales closed in March, April, May, June, July, and December.
When is the best time to sell a home in Flagler County? Probably mid-January through mid-July. That’s the when buyers are most active.
Toby Tobin: REALTOR®, SRES®
I am a REALTOR® licensed by the State of Florida and Seniors Real Estate Specialist, SRES®, with Grand Living Realty, where 'The GoToby Team' helps fellow aged 50+ buyers and sellers achieve improved outcomes in real estate transactions by integrating them with other age-related decisions/plans through my broad network of respected service providers; financial, wills, trusts, probate, insurance, healthcare, home services, recreation, lifestyle, estate planning, and adult living facilities.
Take advantage of my "Been there. Done that." experience, typically at no additional cost to you. Call me at (386) 931-7124 or email me at Toby@GoToby.com.
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