Joe Moshé Says Gains in Housing Markets Should Extend into Summer Season

Joe Moshé, Broker/Owner, Charles Rutenberg Realty, says the housing market’s performance in the spring should continue into the summer season as more buyers take advantage of the low interest rates.


Joe Moshé, Broker/Owner, Charles Rutenberg Realty, says the housing market’s performance in the spring should continue into the summer season as more buyers take advantage of the low interest rates and the market becomes more competitive, driving up prices as more homes come off the market.

Recent data shows that the residential Real Estate market may be seeing a turnaround. The Commerce Department recently reported that new home sales increased by 3.3% in April to a seasonally adjusted rate of 343,000, compared to 328,000 in March, when sales were off by 7.1% from the previous month. Meanwhile, the National Association of REALTORS announced that existing home sales in April were 3.4% higher than they were in March. Last month’s seasonally adjusted rate was 4.62 million was also 10% higher than the April 2011 figure of 4.20 million units.

The NAR also reported that the national median existing-home price was $177,400, a 10.1% year-over-year increase. It was also an improvement over March’s numbers, which was 3.1% higher than in February. It was the first time since the summer of 2010 that there was a back-to-back price increase. April also saw more first-time buyers, which accounted for 35% of all purchasers, compared to 33% in March. Interest rates stayed low; according to Freddie Mac, the average 30-year rate was 3.91% compared to 3.95% the previous month and 4.84% in April 2011.

“The rising number of homes being sold and the price increases are showing us that the residential Real Estate market may be turning upward,” Mr. Moshé said. “With many first-time homebuyers finally coming off the sidelines, making those big-ticket purchases, and taking advantage of low interest rates, I believe that — barring any economic upheaval — we will see a more robust Real Estate market in the coming months. People will feel more confident about the economy and finally buy the house they always wanted.”

Charles Rutenberg Realty is one of the nation’s fastest-growing Agencies with more than 1,300 Agents associated in Long Island, Queens, Westchester, the Boroughs and Manhattan. For more information, call (516) 575-7500, or visit www.crrli.com.


Contact Details

Company Name: Charles Rutenberg Realty
Issued By: Caitlin Revuelta
Phone: 6312071057
Address: 156 North Ocean Avenue
City: Patchogue
State: New York
Zip: 11772
Country: United States
Website: Visit the website

Keywords : charles rutenberg realty, housing market, real estate, new york, long island,

by Caitlin Revuelta (few years ago!)

Latest Press Releases

The Mad Hatter Now Offer a Full Line of Hearth Products and Full Line of Grills

Diabetes Insulin Delivery Pens Market Research Report 2018

Dr Kapadia Provides Tips to Patients Interested in Hair Transplant Procedures

love vashikaran specialist

Solar Blanket Sales Market Report 2018

Spring Bottled Water Market Insights, Forecast to 2025

Biochemical Incubator Sales Market Report 2018

Quinine Sulphate Sales Market Report 2018

Automotive Chassisc System Market Insights, Forecast to 2025

2,6-Dicarboxypyridine market size in key regions like North America, Europe, Asia Pacific an..

Remove this press release ?

Due to extra work required to remove the press-releases we have started charging $1.99 for press release removal.

Your press release will be removed in 24 hours, once the payment has been received.

Search Press Release
e.g. Business, Computer, etc.