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December Home Sales Buck Seasonal Trend
December Home Sales Buck Seasonal Trend
December Home Sales Buck Seasonal Trend
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January 18, 2012 (Jeff Alan)

Monthly home sales bucked the seasonal trend and took a turn for the better in December while housing inventories continued to dwindle and home prices held steady according to RE/MAX’s National Housing Report (NHR).

Closed transactions of home purchases increased 5.7 percent from November to December and were 1.1 percent higher than in December 2010, the sixth consecutive month home sales have increased year-over-year.

Twenty out of the 53 metro areas in the report posted year-over-year increases in closed transactions. Providence, RI (+32.3%), Wilmington, DE (+24.1%), Nashville, TN (+20.5%), Miami, FL (+19.1%), Albuquerque, NM (+17.0%) and Chicago, IL (+16.7%) recorded the highest year-over-year gains in closed transactions in December.

The median sales price of homes sold in December was 1.0 percent lower than in the previous month of November, decreasing from $181,322 to $179,587. The median sales price was 3.5 percent lower than the median price of $189,353 in December of 2010. It was the 15th consecutive month that home prices have declined year-over-year.

Twenty of the 53 metro areas posted higher sales prices in December than they did a year earlier, down from 33 metro areas the previous month. The areas that posted the largest price gains during the month were Miami, FL (+16.7%), Orlando, FL (+14.0%), Little Rock, AR (+6.9%) and Phoenix, AZ (+6.4%).

The average number of days it took to sell a home in December was 98, which was 1 day longer than the 97 days it took in November. The average month’s supply of inventory in December remained unchanged from November at 7.8 months, but was still down from a 10.2 month supply of homes in December 2010.

For all 53 metro areas, the average monthly inventory of homes for sale declined by 11.0 percent from November and was 25.7 percent lower than in December 2010. It was the 18th consecutive month that the supply of homes for sale has declined.

Margaret Kelly, CEO of RE/MAX, LLC., stated “We’re pleasantly surprised to see the year end with such strong sales, and hope this trend will continue into the traditional spring selling season. This December jump may be due to increased investor involvement and transactions that were scheduled to occur before the end of the year, but with prices at or very near the bottom and historically low interest rates, consumers are finding real value in this market.”

Tags: home sales, home prices, seasonal trends, closed transactions, median sales price

Source:
RE/MAX

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Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
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NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
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Helpful Tools
Mortgage
Calculator
Estimate your monthly mortgage payment
Auto Loan
Calculator
Determine how much car you can afford before buying
Learn About
Mortgage Loans
Learn about the different types of home loans
15 Year vs 30 Year
Loan Comparison
Compare 15 year and 30 year mortgage loans
Todays Mortgage
Rates
See today's mortgage rates. Shop, compare and save.

January 18, 2012 (Jeff Alan)

Monthly home sales bucked the seasonal trend and took a turn for the better in December while housing inventories continued to dwindle and home prices held steady according to RE/MAX’s National Housing Report (NHR).

Closed transactions of home purchases increased 5.7 percent from November to December and were 1.1 percent higher than in December 2010, the sixth consecutive month home sales have increased year-over-year.

Twenty out of the 53 metro areas in the report posted year-over-year increases in closed transactions. Providence, RI (+32.3%), Wilmington, DE (+24.1%), Nashville, TN (+20.5%), Miami, FL (+19.1%), Albuquerque, NM (+17.0%) and Chicago, IL (+16.7%) recorded the highest year-over-year gains in closed transactions in December.

The median sales price of homes sold in December was 1.0 percent lower than in the previous month of November, decreasing from $181,322 to $179,587. The median sales price was 3.5 percent lower than the median price of $189,353 in December of 2010. It was the 15th consecutive month that home prices have declined year-over-year.

Twenty of the 53 metro areas posted higher sales prices in December than they did a year earlier, down from 33 metro areas the previous month. The areas that posted the largest price gains during the month were Miami, FL (+16.7%), Orlando, FL (+14.0%), Little Rock, AR (+6.9%) and Phoenix, AZ (+6.4%).

The average number of days it took to sell a home in December was 98, which was 1 day longer than the 97 days it took in November. The average month’s supply of inventory in December remained unchanged from November at 7.8 months, but was still down from a 10.2 month supply of homes in December 2010.

For all 53 metro areas, the average monthly inventory of homes for sale declined by 11.0 percent from November and was 25.7 percent lower than in December 2010. It was the 18th consecutive month that the supply of homes for sale has declined.

Margaret Kelly, CEO of RE/MAX, LLC., stated “We’re pleasantly surprised to see the year end with such strong sales, and hope this trend will continue into the traditional spring selling season. This December jump may be due to increased investor involvement and transactions that were scheduled to occur before the end of the year, but with prices at or very near the bottom and historically low interest rates, consumers are finding real value in this market.”

Tags: home sales, home prices, seasonal trends, closed transactions, median sales price

Source:
RE/MAX

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
HOW LOANRATENETWORK
LOAN CENTER WORKS
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Information You Can Use
Helpful Tools

January 18, 2012 (Jeff Alan)

Monthly home sales bucked the seasonal trend and took a turn for the better in December while housing inventories continued to dwindle and home prices held steady according to RE/MAX’s National Housing Report (NHR).

Closed transactions of home purchases increased 5.7 percent from November to December and were 1.1 percent higher than in December 2010, the sixth consecutive month home sales have increased year-over-year.

Twenty out of the 53 metro areas in the report posted year-over-year increases in closed transactions. Providence, RI (+32.3%), Wilmington, DE (+24.1%), Nashville, TN (+20.5%), Miami, FL (+19.1%), Albuquerque, NM (+17.0%) and Chicago, IL (+16.7%) recorded the highest year-over-year gains in closed transactions in December.

The median sales price of homes sold in December was 1.0 percent lower than in the previous month of November, decreasing from $181,322 to $179,587. The median sales price was 3.5 percent lower than the median price of $189,353 in December of 2010. It was the 15th consecutive month that home prices have declined year-over-year.

Twenty of the 53 metro areas posted higher sales prices in December than they did a year earlier, down from 33 metro areas the previous month. The areas that posted the largest price gains during the month were Miami, FL (+16.7%), Orlando, FL (+14.0%), Little Rock, AR (+6.9%) and Phoenix, AZ (+6.4%).

The average number of days it took to sell a home in December was 98, which was 1 day longer than the 97 days it took in November. The average month’s supply of inventory in December remained unchanged from November at 7.8 months, but was still down from a 10.2 month supply of homes in December 2010.

For all 53 metro areas, the average monthly inventory of homes for sale declined by 11.0 percent from November and was 25.7 percent lower than in December 2010. It was the 18th consecutive month that the supply of homes for sale has declined.

Margaret Kelly, CEO of RE/MAX, LLC., stated “We’re pleasantly surprised to see the year end with such strong sales, and hope this trend will continue into the traditional spring selling season. This December jump may be due to increased investor involvement and transactions that were scheduled to occur before the end of the year, but with prices at or very near the bottom and historically low interest rates, consumers are finding real value in this market.”

Tags: home sales, home prices, seasonal trends, closed transactions, median sales price

Source:
RE/MAX

HOW LOANRATENETWORK
LOAN CENTER WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Information You Can Use

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