Feb 19

Not Just the Weather That’s Frozen Sales?

Not Just the Weather That’s Frozen Sales?

Not Just the Weather That's Frozen Sales? Image courtesy of Tina Phillips / FreeDigitalPhotos.net

Not Just the Weather That’s Frozen Sales? Image courtesy of Tina Phillips / FreeDigitalPhotos.net

Many industry analysts have pointed to the frigid temperatures and harsh winter weather this season as the culprit behind the drop in new- and existing-home sales in both November and December. But some experts are saying that Old Man Winter is getting an undue amount of blame for the freeze in the real estate market.

Lately, sales around the country have fallen by some of the largest numbers in the West, where cold weather has been less of a factor, CNBC reports. In Southern California, closed sales fell 21.4 percent in December compared to November, and they were down nearly 10 percent from December 2012, according to DataQuick.

DataQuick President John Walsh says low inventory as well as the rise in mortgage rates and home prices are likely big contributors to the slowdown in sales.

But in “the Northeast and the Midwest, truly, those weather patterns have impacted the listing market,” Richard Smith, CEO of Realogy, told CNBC. “So until we see some relief there, you’re going to see lower inventory levels. And then one day it’s going to spike, and it will be some time in early spring — of that, we’re fairly optimistic, but I can’t predict that any more than you can.”

Overall, “we may just have to wait for the snowstorms to stop in order to glean what’s real and what’s the impediment of weather,” writes analyst Peter Boockvar of the Lindsey Group.

Source: “Beyond ‘Frozenomics’: What’s Hurting the Housing Market,” CNBC (Feb. 13, 2014)

 

admin

For all of your Real Estate needs, place yourself in the competent hands of a career Realtor who is a Philadelphia native and Delaware County resident. Skilled, smart and enthusiastic about his work and his life, Anthony DiDonato has the appealing combination of business sense and people skills gives him an edge in an industry that demands both.

Educated at Drexel University with a dual major in accounting and finance and minors in management and psychology Anthony DiDonato offers over 25 years of experience in the real estate industry. He has been a real estate investor since 1985 and a member of H.A.P.C.O. (Landlord Association). He became a licensed Realtor in 1992 and a member of the Local, Pennsylvania and National Associations of Realtors. Anthony DiDonato is also a member of the Computerized Multiple Listings, (MLS) and Internet Marketing Programs. In 1997 Anthony DiDonato became Century 21 All-Elite, Inc. Corporate Secretary.

Anthony DiDonato believes in taking his profession to the highest level of quality service. He is known for finding that “perfect” property in Philadelphia, Delaware County, Chester County, Montgomery County and surrounding areas in Pennsylvania for his buyers and helping his sellers prepare their properties so they sell quickly and efficiently.

When it comes time to negotiate the terms of a contract, Anthony DiDonato has the knowledge, experience, and professionalism applied to meeting – or exceeding – his clients’ expectations. His service to his clients is second to none. His honesty and integrity have been his claim to fame.

For Superior Real Estate Representation in the Delaware Valley, Philadelphia, Delaware County, Chester County, Montgomery County and surrounding areas in Pennsylvania… call Anthony DiDonato.