EXIT Realty Foothills Reports on First Quarter Existing-home Sales

FOR IMMEDIATE RELEASE

Contact:
Jessie Eide
Realtor
EXIT Realty Foothills
909.593.0502
admin@ourexitteam.com

EXIT Realty Foothills Reports on First Quarter Existing-home Sales

Existing-home Sales Rise in Most States in First Quarter

La Verne, CA (Grassroots Newswire) 5/12/2011 --The National Association of Realtors reported that the existing home sales rose 8.3% (5.14 million units) in the first quarter. It was an increase from the fourth quarter which sold 4.75 million units. It was, however, a slight decrease from the first quarter of 2010 which sold 5.18 million units. There was a first time homebuyer tax credit in place during the first quarter of 2010.

The median sale price was down 4.6 percent from last year as well. Distressed homes made up 39% of the sales in the first quarter and they were discounted about 20 percent, up 36% from a year ago.

Investors made up 21% of the transactions for the first quarter, up 18% from a year ago. And of course due to the tax refund no longer being applicable only 32% of the homes purchased were bought by first time homebuyers. This is down 42% from last year.

In the western states, including California, existing-home sales rose 13.5% in the first quarter, which is 2.1% over last year. The median existing single-family home price declined 4.7% to $197,400.

For more information about EXIT Realty Foothills, please call 909.593.0502. EXIT Realty Foothills is located at 1339 Foothill Blvd, La Verne CA 91750.

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