Used-Home Sales Drop in February To Lowest Point in Past 2 Years
Apr 04, 1995
Existing home sales in February dropped to the lowest levels in two years as consumer confidence over a slower economy offset a slight decline in mortgage interest rates.
John Tucillo, an economist with the National Association of Realtors explains, “Despite rates starting to come down some, consumers are now focused on a grim outlook in job growth.”
The National Association of Realtors reported last week that sales of existing single-family homes dropped in all regions of the country.
In the Twin Cities, the number of used single-family homes that closed in February fell a whopping 25 percent and the number of sales pending for all property types fell 8.3% according to the Regional Multiple Listing Service.
New listings as well as active listings fell slightly during the month of February. Those percentages declined 9.6% and 4.7% respectively.
Despite the bleak housing news, Jeff Scislow, Realtor with RE/MAX Results in Apple Valley, MN, posted record sales for the same month of February 1995. Scislow, who sold better than a home every other day, finished the month with 16 home sales.
His pace continued into March – selling 19 homes! For the 1st Quarter of 1995 Scislow completed a record 43 home sales. Scislow, who has sold over 300 homes in the past 24 months, has sold more homes than any Realtor in Minnesota since 1990.
“As the market slows down, more and more people turn to us,” said Scislow. He pointed out, “We sell our listings 60% faster than industry averages and net our clients top dollar for their homes. We’ve designed an elaborate marketing program that works and my team of 8 administrative specialists provide ‘unmatched quality service and support’ to my clients.”
Scislow has definitely created the real estate office of the future. Each administrative person, under Scislow’s direction, focuses on a specific part of the home sale and transaction process. This frees up Scislow’s time to focus on marketing ideas, prospecting and negotiating sales contracts. The end result, Scislow gets the job done and gets it done efficiently.
