February 24, 2011 Mara Bushari

istock_000001039737largeThe increase in existing-home sales continues, with January sales rising for the third consecutive month with a pace that is now above year-ago levels, according to the National Association of REALTORS®. Existing home sales, which are completed transactions that include single-family, townhomes, condominiums and co-ops, increased 2.7 percent to a seasonally adjusted annual rate of 5.36 million in January from a downwardly revised 5.22 million in December, and are 5.3 percent above the 5.09 million level in January 2010. This is the first time in seven months that sales activity was higher than a year earlier. It is important to note that the National Association of REALTORS® considers existing home sales to include single-family, townhomes, condominiums and co-ops. The data is based on transaction closings. This differs from the U.S. Census Bureau’s serious on new single family home sales, which are based on contracts or the acceptance of a deposit. 

This is generally seen as a positive indicator for the national real estate market; however, I wonder whether existing home sales are on the rise simply because there are less new homes to buy. New development has plunged as it has been increasingly more difficult to secure financing for new projects. Homebuyers have also found it more difficult to get mortgages, and all-cash existing home sales rose to 32 percent in January from 29 percent in December and 26 percent in January 2010.

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Mara Bushari

Mara is a creative thinker and strategic marketer. She graduated Summa Cum Laude from Boston University’s College of Communication and worked in international finance before joining The Bushari Team. Mara strives to exceed expectations. As Client Relations Specialist, she is a key facilitator in all team transactions, making the buying or selling process as stress-free as possible for the client. Mara learned many of her extraordinary organizational and problem-solving skills during her service in the Israeli Defense Forces, where she earned the “President’s Award” for exceptional service. In the military, Mara solidified her abilities to achieve top results in high pressure and time sensitive situations. In her spare time, Mara enjoys skiing, photography and writing.

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