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Home Sales Back to Normal Seasonal Trend after December Jump
Home Sales Back to Normal Seasonal Trend after December Jump
Home Sales Back to Normal Seasonal Trend after December Jump
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February 17, 2012 (Jeff Alan)

Home sales returned to their normal seasonal trends in January following December’s unexpected jump but still remained higher than last year’s levels according to RE/MAX’s National Housing Report (NHR).

Closed transactions of home purchases declined 19.3 percent from December to January but were still 3.4 percent higher than in January 2011, the seventh 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. Albuquerque, NM (+33.9%), Wilmington-Dover, DE (+33.2%,) Atlanta, GA (+26.3%), Indianapolis, IN (+19.6%), Providence, RI (+19.6%), Nashville, TN (+19.5%), Cleveland, OH (+18.9%) and Chicago, (IL +15.3%) recorded the highest year-over-year gains in closed transactions in January.

The median sales price of homes sold in January were 3.4 percent lower than in the previous month of December and were 0.8 percent lower than the median price in January of 2011. It was the 17th consecutive month that home prices have declined year-over-year.

Only 15 of the 53 metro areas posted higher sales prices in January than they did a year earlier, down from 20 metro areas the previous month. The areas that posted the largest price gains during the month were Miami, FL (+23.8%), Orlando, FL (+15.8%), Tampa, FL (+15.6%), Phoenix, AZ (+9.0%), Little Rock, AR (+5.5%) and Detroit, MI (+5.1%).

The average number of days it took to sell a home in January was 103, which was 5 days longer than the 98 days it took in December. The average month’s supply of inventory in January was 7.3, down from 7.8 months in December and down from a 10.1 months supply of homes in January 2011.

For all 53 metro areas, the average monthly inventory of homes for sale declined by 4.2 percent from December and was 24.1 percent lower than in January 2011. It was the 19th consecutive month that the supply of homes for sale has declined.

Margaret Kelly, CEO of RE/MAX, LLC., stated “This positive start to the year will hopefully set the tone for a continuing housing recovery that’s drawing home buyers with low interest rates and low prices. If sales continue ahead of last year’s pace and inventory does not increase significantly, we could start to see increasing home prices this year.”

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

Source:
RE/MAX

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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.

February 17, 2012 (Jeff Alan)

Home sales returned to their normal seasonal trends in January following December’s unexpected jump but still remained higher than last year’s levels according to RE/MAX’s National Housing Report (NHR).

Closed transactions of home purchases declined 19.3 percent from December to January but were still 3.4 percent higher than in January 2011, the seventh 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. Albuquerque, NM (+33.9%), Wilmington-Dover, DE (+33.2%,) Atlanta, GA (+26.3%), Indianapolis, IN (+19.6%), Providence, RI (+19.6%), Nashville, TN (+19.5%), Cleveland, OH (+18.9%) and Chicago, (IL +15.3%) recorded the highest year-over-year gains in closed transactions in January.

The median sales price of homes sold in January were 3.4 percent lower than in the previous month of December and were 0.8 percent lower than the median price in January of 2011. It was the 17th consecutive month that home prices have declined year-over-year.

Only 15 of the 53 metro areas posted higher sales prices in January than they did a year earlier, down from 20 metro areas the previous month. The areas that posted the largest price gains during the month were Miami, FL (+23.8%), Orlando, FL (+15.8%), Tampa, FL (+15.6%), Phoenix, AZ (+9.0%), Little Rock, AR (+5.5%) and Detroit, MI (+5.1%).

The average number of days it took to sell a home in January was 103, which was 5 days longer than the 98 days it took in December. The average month’s supply of inventory in January was 7.3, down from 7.8 months in December and down from a 10.1 months supply of homes in January 2011.

For all 53 metro areas, the average monthly inventory of homes for sale declined by 4.2 percent from December and was 24.1 percent lower than in January 2011. It was the 19th consecutive month that the supply of homes for sale has declined.

Margaret Kelly, CEO of RE/MAX, LLC., stated “This positive start to the year will hopefully set the tone for a continuing housing recovery that’s drawing home buyers with low interest rates and low prices. If sales continue ahead of last year’s pace and inventory does not increase significantly, we could start to see increasing home prices this year.”

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

February 17, 2012 (Jeff Alan)

Home sales returned to their normal seasonal trends in January following December’s unexpected jump but still remained higher than last year’s levels according to RE/MAX’s National Housing Report (NHR).

Closed transactions of home purchases declined 19.3 percent from December to January but were still 3.4 percent higher than in January 2011, the seventh 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. Albuquerque, NM (+33.9%), Wilmington-Dover, DE (+33.2%,) Atlanta, GA (+26.3%), Indianapolis, IN (+19.6%), Providence, RI (+19.6%), Nashville, TN (+19.5%), Cleveland, OH (+18.9%) and Chicago, (IL +15.3%) recorded the highest year-over-year gains in closed transactions in January.

The median sales price of homes sold in January were 3.4 percent lower than in the previous month of December and were 0.8 percent lower than the median price in January of 2011. It was the 17th consecutive month that home prices have declined year-over-year.

Only 15 of the 53 metro areas posted higher sales prices in January than they did a year earlier, down from 20 metro areas the previous month. The areas that posted the largest price gains during the month were Miami, FL (+23.8%), Orlando, FL (+15.8%), Tampa, FL (+15.6%), Phoenix, AZ (+9.0%), Little Rock, AR (+5.5%) and Detroit, MI (+5.1%).

The average number of days it took to sell a home in January was 103, which was 5 days longer than the 98 days it took in December. The average month’s supply of inventory in January was 7.3, down from 7.8 months in December and down from a 10.1 months supply of homes in January 2011.

For all 53 metro areas, the average monthly inventory of homes for sale declined by 4.2 percent from December and was 24.1 percent lower than in January 2011. It was the 19th consecutive month that the supply of homes for sale has declined.

Margaret Kelly, CEO of RE/MAX, LLC., stated “This positive start to the year will hopefully set the tone for a continuing housing recovery that’s drawing home buyers with low interest rates and low prices. If sales continue ahead of last year’s pace and inventory does not increase significantly, we could start to see increasing home prices this year.”

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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