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RE/MAX Reports Sales and Prices Reflecting More Seasonal Trends
RE/MAX Reports Sales and Prices Reflecting More Seasonal Trends
RE/MAX Reports Sales and Prices Reflecting More Seasonal Trends
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June 15, 2011 (Brian Moore)

Home sales and home prices are trending in a positive direction reflecting more normal seasonal trends as home prices edged up for the third month in a row by 3.7 percent in May compared to April and closed transactions also increased by 3.3 percent according to RE/MAX’s National Housing Report (NHR).

This year’s spring selling season couldn’t have come soon enough after a disappointing and dismal winter with current marketing data suggesting that the housing market may have hit bottom sometime after the first of year.

However, RE/MAX reports we may not be out of the woods yet, as financing requirements, poor appraisals, unemployment and uncertainty about the economy may hold the market back despite the positive month-to-month data that has pointed to an improving, though uneven, market recovery.

“Home sales activity appears to be coming back in line with the seasonal trends we would expect to see this time of year,” said Margaret Kelly, RE/MAX CEO. “It’s a very good sign that prices are starting to rise on a monthly basis. This may indicate that we’ve turned the corner and are headed in a positive direction.”

Closed transactions were 3.3 percent higher in May than April but were still 13.6 percent below the levels observed in May of 2010. Forty-two out of the 53 metro areas in the report experienced month-over-month increases in closed transactions. Phoenix (+10.9) and Miami (+10.2) lead the survey with double digit increases.

Sales prices in May were 3.7 percent higher than in April, but were 7.2 percent lower than May 2010. The median sales price in May 2011 was $183,815 which compares to a median sales price of $198,119 in May of 2010.

Forty-five of the 53 metro areas experienced price increases month-over-month, with two metro areas reporting unchanged prices. The best pricing performers were Providence, RI (+10.2%), Cleveland (+9.9%), Miami (+9.8%), Birmingham (+9.5%), and Kansas City (+9.2%).

The average number of days it took to sell a home in May was 94, which was down from 98 days in April. Inventory declined slightly as there was a 6.9 month supply of homes on the market in May compared to a 7.1 months supply in April.

Tags: RE/MAX, home sales, home prices, National Housing Report, spring selling season, market recovery, seasonal trends, financing requirements, poor appraisals, closed transactions

Source:
RE/MAX

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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.

June 15, 2011 (Brian Moore)

Home sales and home prices are trending in a positive direction reflecting more normal seasonal trends as home prices edged up for the third month in a row by 3.7 percent in May compared to April and closed transactions also increased by 3.3 percent according to RE/MAX’s National Housing Report (NHR).

This year’s spring selling season couldn’t have come soon enough after a disappointing and dismal winter with current marketing data suggesting that the housing market may have hit bottom sometime after the first of year.

However, RE/MAX reports we may not be out of the woods yet, as financing requirements, poor appraisals, unemployment and uncertainty about the economy may hold the market back despite the positive month-to-month data that has pointed to an improving, though uneven, market recovery.

“Home sales activity appears to be coming back in line with the seasonal trends we would expect to see this time of year,” said Margaret Kelly, RE/MAX CEO. “It’s a very good sign that prices are starting to rise on a monthly basis. This may indicate that we’ve turned the corner and are headed in a positive direction.”

Closed transactions were 3.3 percent higher in May than April but were still 13.6 percent below the levels observed in May of 2010. Forty-two out of the 53 metro areas in the report experienced month-over-month increases in closed transactions. Phoenix (+10.9) and Miami (+10.2) lead the survey with double digit increases.

Sales prices in May were 3.7 percent higher than in April, but were 7.2 percent lower than May 2010. The median sales price in May 2011 was $183,815 which compares to a median sales price of $198,119 in May of 2010.

Forty-five of the 53 metro areas experienced price increases month-over-month, with two metro areas reporting unchanged prices. The best pricing performers were Providence, RI (+10.2%), Cleveland (+9.9%), Miami (+9.8%), Birmingham (+9.5%), and Kansas City (+9.2%).

The average number of days it took to sell a home in May was 94, which was down from 98 days in April. Inventory declined slightly as there was a 6.9 month supply of homes on the market in May compared to a 7.1 months supply in April.

Tags: RE/MAX, home sales, home prices, National Housing Report, spring selling season, market recovery, seasonal trends, financing requirements, poor appraisals, closed transactions

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

June 15, 2011 (Brian Moore)

Home sales and home prices are trending in a positive direction reflecting more normal seasonal trends as home prices edged up for the third month in a row by 3.7 percent in May compared to April and closed transactions also increased by 3.3 percent according to RE/MAX’s National Housing Report (NHR).

This year’s spring selling season couldn’t have come soon enough after a disappointing and dismal winter with current marketing data suggesting that the housing market may have hit bottom sometime after the first of year.

However, RE/MAX reports we may not be out of the woods yet, as financing requirements, poor appraisals, unemployment and uncertainty about the economy may hold the market back despite the positive month-to-month data that has pointed to an improving, though uneven, market recovery.

“Home sales activity appears to be coming back in line with the seasonal trends we would expect to see this time of year,” said Margaret Kelly, RE/MAX CEO. “It’s a very good sign that prices are starting to rise on a monthly basis. This may indicate that we’ve turned the corner and are headed in a positive direction.”

Closed transactions were 3.3 percent higher in May than April but were still 13.6 percent below the levels observed in May of 2010. Forty-two out of the 53 metro areas in the report experienced month-over-month increases in closed transactions. Phoenix (+10.9) and Miami (+10.2) lead the survey with double digit increases.

Sales prices in May were 3.7 percent higher than in April, but were 7.2 percent lower than May 2010. The median sales price in May 2011 was $183,815 which compares to a median sales price of $198,119 in May of 2010.

Forty-five of the 53 metro areas experienced price increases month-over-month, with two metro areas reporting unchanged prices. The best pricing performers were Providence, RI (+10.2%), Cleveland (+9.9%), Miami (+9.8%), Birmingham (+9.5%), and Kansas City (+9.2%).

The average number of days it took to sell a home in May was 94, which was down from 98 days in April. Inventory declined slightly as there was a 6.9 month supply of homes on the market in May compared to a 7.1 months supply in April.

Tags: RE/MAX, home sales, home prices, National Housing Report, spring selling season, market recovery, seasonal trends, financing requirements, poor appraisals, closed transactions

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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