Record High Home Sales for the Month of June!

The Creig Northrop Team of Long & Foster Real Estate, Inc completed the month of June with a record high, selling 122 homes – making it our best June in three years.

On a national level, existing-home sales – including single-family, townhomes, condominiums and co-ops – increased 3.6 percent to a seasonally adjusted annual rate of 4.89 million units in June.

The National Association of Realtors said about 31% of last month’s sales were distressed homes, down from the 45-50% last month. Approximately 29% of the June buyers were first-time buyers, up nearly 12 percentage points since June 2008.

“What’s even more amazing, comments Creig Northrop, “is on a local level.” The number of homes sold in Maryland rose 10 percent in June 2009 compared to June 2008. “That’s a huge jump” he adds.

In June of 2009 there were 5,082 units sold in Maryland compared to 4,621 in 2008.

One of the largest increases was seen in Montgomery County – which saw a 20.9 percent increase in units sold over last year. Howard County saw a 3.7 percent increase. Carroll County was up 5.20 percent.

“We recognize this is as a very positive sign in the market,” says Creig Northrop. “Certainly we face the challenges of the market but through knowledge, market experience, and dedication to our clients we are able to stay ahead. It’s great to  see signs that the housing market is finally bouncing back.”

New Construction Sales were also up in June. The government says new US home sales rose by 11 percent – the largest amount in nearly nine years last month.

To find out “Why This is the Year to Buy a House” or “Why Your House Isn’t Selling” sign up for our August webinars at www.northropteam.com/events

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2 Comments

Filed under Northrop Team News

2 responses to “Record High Home Sales for the Month of June!

  1. Pingback: Is the Real Estate Market Recovering? « Maryland Real Estate News

  2. Pingback: Pending Home Sales Rise for 5th Consecutive Month « Maryland Real Estate News

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