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RE/MAX: Housing Recovery is Underway
RE/MAX: Housing Recovery is Underway
RE/MAX: Housing Recovery is Underway
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March 15, 2012 (Jeff Alan)

Low mortgage rates and favorable home prices are attracting buyers back into the housing market as annual sales climbed for the eighth consecutive month in February and home prices increased for the first time in a year-and-a-half according to RE/MAX’s National Housing Report (NHR).

Closed transactions of home purchases increased 1.1 percent from January to February and were 8.7 percent higher than in February 2011, the eighth consecutive month home sales have increased year-over-year.

Forty-five out of the 53 metro areas in the report posted year-over-year increases in closed transactions, up from 20 metro areas in January. Albuquerque, NM (+46.6%), Providence, RI (+36.7%), Raleigh, NC (+33.8%), Boston, MA (+30.5%) and Chicago, IL (+27.5%) recorded the highest year-over-year gains in closed transactions in February.

The median sales price of homes sold in February was 1.4 percent higher than in the previous month of January, increasing from $170,598 to $171,881. The median sales price was 1.1 percent higher than the median price of $170,025 in February of 2011. It was the first time in 18 months that home prices have increased year-over-year.

Twenty-four of the 53 metro areas posted higher sales prices in February than they did a year earlier, up from 15 metro areas the previous month. The areas that posted the largest price gains during the month were Miami, FL (+20.5%), Orlando, FL (+15.8%), Phoenix, AZ (+12.5%), Tampa, FL (+11.1%), and St. Louis, MO (+9.8%).

The average number of days it took to sell a home in February was 103, the same number of days it took in January. The average month’s supply of inventory in February was 6.6, down from 7.3 months in January and down from a 9.3 months supply of homes in February 2011.

The reduced level of foreclosure activity has left housing supplies dwindling with the average monthly inventory of homes for sale declining by 0.8 percent from January and 22.4 percent from February 2011. It was the 20th consecutive month that the supply of homes for sale has declined.

Margaret Kelly, CEO of RE/MAX, LLC., stated “All the data is pointing to a very active spring and summer selling season this year, which is great news for a recovering housing market. As sales numbers have trended higher for several months, we have been anticipating a turnaround in home prices, and it looks like it’s finally starting.”

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
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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
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.

March 15, 2012 (Jeff Alan)

Low mortgage rates and favorable home prices are attracting buyers back into the housing market as annual sales climbed for the eighth consecutive month in February and home prices increased for the first time in a year-and-a-half according to RE/MAX’s National Housing Report (NHR).

Closed transactions of home purchases increased 1.1 percent from January to February and were 8.7 percent higher than in February 2011, the eighth consecutive month home sales have increased year-over-year.

Forty-five out of the 53 metro areas in the report posted year-over-year increases in closed transactions, up from 20 metro areas in January. Albuquerque, NM (+46.6%), Providence, RI (+36.7%), Raleigh, NC (+33.8%), Boston, MA (+30.5%) and Chicago, IL (+27.5%) recorded the highest year-over-year gains in closed transactions in February.

The median sales price of homes sold in February was 1.4 percent higher than in the previous month of January, increasing from $170,598 to $171,881. The median sales price was 1.1 percent higher than the median price of $170,025 in February of 2011. It was the first time in 18 months that home prices have increased year-over-year.

Twenty-four of the 53 metro areas posted higher sales prices in February than they did a year earlier, up from 15 metro areas the previous month. The areas that posted the largest price gains during the month were Miami, FL (+20.5%), Orlando, FL (+15.8%), Phoenix, AZ (+12.5%), Tampa, FL (+11.1%), and St. Louis, MO (+9.8%).

The average number of days it took to sell a home in February was 103, the same number of days it took in January. The average month’s supply of inventory in February was 6.6, down from 7.3 months in January and down from a 9.3 months supply of homes in February 2011.

The reduced level of foreclosure activity has left housing supplies dwindling with the average monthly inventory of homes for sale declining by 0.8 percent from January and 22.4 percent from February 2011. It was the 20th consecutive month that the supply of homes for sale has declined.

Margaret Kelly, CEO of RE/MAX, LLC., stated “All the data is pointing to a very active spring and summer selling season this year, which is great news for a recovering housing market. As sales numbers have trended higher for several months, we have been anticipating a turnaround in home prices, and it looks like it’s finally starting.”

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

March 15, 2012 (Jeff Alan)

Low mortgage rates and favorable home prices are attracting buyers back into the housing market as annual sales climbed for the eighth consecutive month in February and home prices increased for the first time in a year-and-a-half according to RE/MAX’s National Housing Report (NHR).

Closed transactions of home purchases increased 1.1 percent from January to February and were 8.7 percent higher than in February 2011, the eighth consecutive month home sales have increased year-over-year.

Forty-five out of the 53 metro areas in the report posted year-over-year increases in closed transactions, up from 20 metro areas in January. Albuquerque, NM (+46.6%), Providence, RI (+36.7%), Raleigh, NC (+33.8%), Boston, MA (+30.5%) and Chicago, IL (+27.5%) recorded the highest year-over-year gains in closed transactions in February.

The median sales price of homes sold in February was 1.4 percent higher than in the previous month of January, increasing from $170,598 to $171,881. The median sales price was 1.1 percent higher than the median price of $170,025 in February of 2011. It was the first time in 18 months that home prices have increased year-over-year.

Twenty-four of the 53 metro areas posted higher sales prices in February than they did a year earlier, up from 15 metro areas the previous month. The areas that posted the largest price gains during the month were Miami, FL (+20.5%), Orlando, FL (+15.8%), Phoenix, AZ (+12.5%), Tampa, FL (+11.1%), and St. Louis, MO (+9.8%).

The average number of days it took to sell a home in February was 103, the same number of days it took in January. The average month’s supply of inventory in February was 6.6, down from 7.3 months in January and down from a 9.3 months supply of homes in February 2011.

The reduced level of foreclosure activity has left housing supplies dwindling with the average monthly inventory of homes for sale declining by 0.8 percent from January and 22.4 percent from February 2011. It was the 20th consecutive month that the supply of homes for sale has declined.

Margaret Kelly, CEO of RE/MAX, LLC., stated “All the data is pointing to a very active spring and summer selling season this year, which is great news for a recovering housing market. As sales numbers have trended higher for several months, we have been anticipating a turnaround in home prices, and it looks like it’s finally starting.”

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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