The National Association of Realtors® did not have good news for home buyers or sellers in a recent article. They reported that existing-home sales weakened against a backdrop of an eroding economy. Existing-home sales - including single-family, townhomes, condominiums and co-ops - fell 8.6 percent to a seasonally adjusted annual rate¹ of 4.49 million units in November from a downwardly revised level of 4.91 million in October, and are 10.6 percent below the 5.02 million-unit pace in November 2007. Lawrence Yun, NAR chief economist, expected a decline. "The quickly deteriorating conditions in the job market, stock market, and consumer confidence in October and November have knocked down home sales to another level. We hope the home sales impact from the stock market crash turns out to be short-lived, as was the case in 1987 and 2001," he said. Here's looking forward to a more positive market in 2009.
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Location Characteristics: Hillsdale is a small town just east of Cheyenne. The friendly hometown atmosphere will draw you to this town.
About Connie Webb:
Connie Webb has been a Realtor for more than 15 years. She has also lived in Wyoming for most of her life. Her familiarity with the area and her experience makes her an expert in the Cheyenne Market. Call today to talk to Connie! 1-800-221-5064.
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
