Howard Hanna real estate volume up
Howard Hanna Real Estate Services saw 31 percent increase in total written sales volume in May compared to the same month in 2010, the company reported. It was $474.1 million last May and rose to $623.6 million this past month.
Helen Hanna Casey , president of Howard Hanna Real Estate Services in O’Hara, attributed the sales growth to pent-up demand and a stronger economy in the Pittsburgh area.
“The market has rebounded due to the pent up demand of ‘move-up’ buyers who didn’t really buy in the last three years. In the past 90 days, however, we’ve seen the most activity from this demographic,” said Casey, in a prepared statement.
She added that Pittsburgh’s strong economy has fueled the increased movement of corporate relocation transferees to the region, specifying the expansion of Westinghouse, the Marcellus shale industry and the region’s health care sector.
Helping to drive sales growth at Howard Hanna are interest rates at 4.50 percent, which Casey described as the lowest in 50 years. Howard Hanna is the region's largest residential real estate firm.
Overall, the housing market has remained rocky nationally but with the Pi ttsburgh area holding up better than most metros.
Howard Hanna’s strong May follows local industry research firm RealSTATS reporting a 23.2 percent decrease in the number of homes sold in Apri l for a five-county Pittsburgh metro.
Howard Hannah Realty - News
Howard Hanna Real Estate Services saw 31 percent increase in total written sales volume in May compared to the same month in 2010, the company reported. It was $474.1 million last May and rose to $623.6 million this past month.
"We weren't at the party, so we didn't get a hangover," shrugs Patrick A. Gray, an agent with the region's biggest firm, Howard Hanna Real Estate. There's a lot of pride in that assertion, especially as he tries to persuade me, a New Yorker,
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