‘There’s No Buyers! There’s No Buyers!’

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I usually get asked all the time by relatives or friends, “So Tom, how’s the market doing?” When I start talking, they stop listening usually and follow up with whatever I say with, “There’s no buyers.”

To quickly counteract this mode of thinking, I want to make sure that people know that homes are selling. It’s just the homes that are priced right are the ones that are selling. Long Island Housing Data By Zip Code April 2011

I want to stress that the April 2011 numbers are not good when we compare them to April 2010, however, it is not a fair comparison given that last year, the home buyer tax credit was available to buyers and that certainly had an impact on home sales. So those April 2010 numbers need to be adjusted to reflect that big difference.

Of course, gas prices are much higher now than they were last year at this time so I would assume that the “fuel factor” is playing a part in why the volume of home sales in April is dragging.

But sticking with my point. I cannot sit back idly while people tell me that there’s “no buyers”. There clearly is a buying market out there.

National Numbers

Approximately 14,000 homes sold yesterday nationwide. Of course that’s an average, but that’s what sells, on average, everyday in America. There are buyers out there.

And when we start to look at pending home sales, it’s very clear that a “wave” is building, as the graph shows pending sales slowly and steadily rising.

So to all those that like to say, “There’s no buyers out there”, I say to you that there are home buyers out there. In every news story you read, there’s always information behind the headlines that will give you the full picture. And while Long Island seems to have had a very poor buyer turn out in April, the numbers still demonstrate homes are being bought. There are buyers out there!

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