RE/MAX: Home Prices Continue to Decline
RE/MAX: Home Prices Continue to Decline
RE/MAX: Home Prices Continue to Decline
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March 18, 2011 (Shirley Allen)
mortgage-fallingprices-image
Home prices continued to decline in February according to the RE/MAX National Housing Report. Prices dropped 5.9 percent compared to February 2010 which was the largest yearly drop since April 2010. This also follows a drop in year-over-year prices in January of 4.6 percent. The median sales price for a home in February was $172,000, compared to a median sales price in February 2010 of $182,785.

Total home sales, in the 54 metropolitan areas that RE/MAX surveys, dropped 3 percent from a year ago, but increased 3.3 percent from January 2011. It was the first time in four months that the year-over-year difference did not improve from the previous month.

The amount of time that a home spent on the market increased to102 days, versus 92 days a year ago, and 99 days from the month before. Housing inventory reached a 9.3 month supply, up from a 8.8 month supply a year ago.

“It’s a very good sign that home sales increased over January, which could mean that sales will increase further as we move into springtime, the prime home buying season,” RE/MAX CEO Margaret Kelly said. “If this trend for home sales does continue, we could also see home prices start to move up, as well.”

Seventeen metropolitan areas experienced higher sales than the previous years, with 10 of those areas experiencing double digit increases. The top performers were Albuquerque, NM +22.8%, Miami, FL +25.1%, Tampa, FL +22.0%, Trenton, NJ +20.3%, New Orleans, LA +16.2%, and Phoenix, AZ +12.2%.

Seventeen metropolitan areas also experienced year-over-year price increases. Areas seeing the largest gain in home prices included Anchorage, AK +11.2%, Jackson, MS +6.3%, Pittsburgh, PA +4.9%, Charlotte, NC +4.4%, Honolulu, HI +3.7%, and Houston, TX +3.3%.

Tags: RE/MAX, National Housing Report, median sales price, housing inventory, home sales, home prices

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March 18, 2011 (Shirley Allen)
mortgage-fallingprices-image
Home prices continued to decline in February according to the RE/MAX National Housing Report. Prices dropped 5.9 percent compared to February 2010 which was the largest yearly drop since April 2010. This also follows a drop in year-over-year prices in January of 4.6 percent. The median sales price for a home in February was $172,000, compared to a median sales price in February 2010 of $182,785.

Total home sales, in the 54 metropolitan areas that RE/MAX surveys, dropped 3 percent from a year ago, but increased 3.3 percent from January 2011. It was the first time in four months that the year-over-year difference did not improve from the previous month.

The amount of time that a home spent on the market increased to102 days, versus 92 days a year ago, and 99 days from the month before. Housing inventory reached a 9.3 month supply, up from a 8.8 month supply a year ago.

“It’s a very good sign that home sales increased over January, which could mean that sales will increase further as we move into springtime, the prime home buying season,” RE/MAX CEO Margaret Kelly said. “If this trend for home sales does continue, we could also see home prices start to move up, as well.”

Seventeen metropolitan areas experienced higher sales than the previous years, with 10 of those areas experiencing double digit increases. The top performers were Albuquerque, NM +22.8%, Miami, FL +25.1%, Tampa, FL +22.0%, Trenton, NJ +20.3%, New Orleans, LA +16.2%, and Phoenix, AZ +12.2%.

Seventeen metropolitan areas also experienced year-over-year price increases. Areas seeing the largest gain in home prices included Anchorage, AK +11.2%, Jackson, MS +6.3%, Pittsburgh, PA +4.9%, Charlotte, NC +4.4%, Honolulu, HI +3.7%, and Houston, TX +3.3%.

Tags: RE/MAX, National Housing Report, median sales price, housing inventory, home sales, home prices

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.
Helpful Tools

March 18, 2011 (Shirley Allen)
mortgage-fallingprices-image
Home prices continued to decline in February according to the RE/MAX National Housing Report. Prices dropped 5.9 percent compared to February 2010 which was the largest yearly drop since April 2010. This also follows a drop in year-over-year prices in January of 4.6 percent. The median sales price for a home in February was $172,000, compared to a median sales price in February 2010 of $182,785.

Total home sales, in the 54 metropolitan areas that RE/MAX surveys, dropped 3 percent from a year ago, but increased 3.3 percent from January 2011. It was the first time in four months that the year-over-year difference did not improve from the previous month.

The amount of time that a home spent on the market increased to102 days, versus 92 days a year ago, and 99 days from the month before. Housing inventory reached a 9.3 month supply, up from a 8.8 month supply a year ago.

“It’s a very good sign that home sales increased over January, which could mean that sales will increase further as we move into springtime, the prime home buying season,” RE/MAX CEO Margaret Kelly said. “If this trend for home sales does continue, we could also see home prices start to move up, as well.”

Seventeen metropolitan areas experienced higher sales than the previous years, with 10 of those areas experiencing double digit increases. The top performers were Albuquerque, NM +22.8%, Miami, FL +25.1%, Tampa, FL +22.0%, Trenton, NJ +20.3%, New Orleans, LA +16.2%, and Phoenix, AZ +12.2%.

Seventeen metropolitan areas also experienced year-over-year price increases. Areas seeing the largest gain in home prices included Anchorage, AK +11.2%, Jackson, MS +6.3%, Pittsburgh, PA +4.9%, Charlotte, NC +4.4%, Honolulu, HI +3.7%, and Houston, TX +3.3%.

Tags: RE/MAX, National Housing Report, median sales price, housing inventory, home sales, home prices

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.