Declining Home Sales? Dont' Believe the Hype

Existing home sales dropped in November, just like they do every winter. Don’t be fooled by headlines about a real estate slow down, or a collapsing market. That’s just not true.

The drop in sales this winter isn’t anywhere close to the drop last year. In fact, this season is on track to be one of the best winters we’ve seen in a decade!

Let’s compare the chart above showing existing home sales through November, 2014 with some more historical data.

The winter of 2013 saw a dramatic drop in home sales that started falling off all the way in August. This year, we’ve had a build up of sales all the way to November and that’s when we first saw that drop.

So yes, home sales are down. It’s winter, everyone knows there are fewer buyers in the market this time of year. The sky is not in fact falling though. Our local market is on pace for a robust real estate season.

If you’ve been considering selling your home, or just want to talk with someone who knows our local market, give us a call today. We look forward to helping you better understand today’s challenging real estate landscape.

The Kombrink Lobrillo Team at RE/MAX Great American North can be reached at (630) 488-3300.