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Home Sales Slump in January but Still Higher than Last Year
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You're Now Reading:
Home Sales Slump in January but Still Higher than Last Year
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
You're Now Reading:
Home Sales Slump in January but Still Higher than Last Year
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Monthly sales of existing homes fell for the third consecutive month in January according to RE/MAX’s monthly National Housing Report (NHR) but were still over nine percent higher than the previous year.

January followed December’s 4.9 percent monthly decline in closed transactions with a 22.0 percent decline but transactions for the month were still 9.1 percent higher than in January of 2012, marking the 19th consecutive month that home sales have increased year-over-year.

Forty-one out of the 53 metro areas in the report posted year-over-year increases in closed transactions, up from 34 in December. Billings, MT (+62.0%), Albuquerque, NM (+45.6%), Chicago, IL (+39.2%), Raleigh, NC (+33.4%) and Charlotte, NC (+29.2%), recorded the highest year-over-year gains in closed transactions in January.

Housing supplies continued to remain constrained with the average monthly inventory of homes for sale declining by 5.1 percent from December and 28.9 percent from January 2012. It was the 31st consecutive month that the supply of homes for sale has declined.

The average month’s supply of homes for sale fell from a revised 5.7 months supply of homes in December to a 5.0 months supply in January and was down from a 7.3 months supply in January of last year.

The median sales price of the homes sold in January was 6.6 percent lower than in the previous month of December, falling from $166,250to $150,000. The median sales price was still 8.0 percent higher than the median price of $143,480 in January of 2012. It was the 12th consecutive month that home prices have increased year-over-year following 18 months of declines.

Forty-four of the 53 metro areas posted higher sales prices in January than they did a year earlier, down from 48 the previous month. The areas that posted the largest price gains during the month were San Francisco, CA (+39.2%), Atlanta, GA (+38.9%), Detroit, MI (+31.1%), Phoenix, AZ (+29.1%) and Boise, ID (+28.7%).

The average number of days it took for a home to sell increased slightly but still remained low at 87 days in January, up from 84 days in December, but still lower than the 103 days it took a year ago.

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

Source:
RE/MAX

Reported by Jeff Alan

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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.
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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.
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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.
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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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Tips
Home Selling
Tips
About
Mortgages
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Calculator
Mortgage
Rates

Monthly sales of existing homes fell for the third consecutive month in January according to RE/MAX’s monthly National Housing Report (NHR) but were still over nine percent higher than the previous year.

January followed December’s 4.9 percent monthly decline in closed transactions with a 22.0 percent decline but transactions for the month were still 9.1 percent higher than in January of 2012, marking the 19th consecutive month that home sales have increased year-over-year.

Forty-one out of the 53 metro areas in the report posted year-over-year increases in closed transactions, up from 34 in December. Billings, MT (+62.0%), Albuquerque, NM (+45.6%), Chicago, IL (+39.2%), Raleigh, NC (+33.4%) and Charlotte, NC (+29.2%), recorded the highest year-over-year gains in closed transactions in January.

Housing supplies continued to remain constrained with the average monthly inventory of homes for sale declining by 5.1 percent from December and 28.9 percent from January 2012. It was the 31st consecutive month that the supply of homes for sale has declined.

The average month’s supply of homes for sale fell from a revised 5.7 months supply of homes in December to a 5.0 months supply in January and was down from a 7.3 months supply in January of last year.

The median sales price of the homes sold in January was 6.6 percent lower than in the previous month of December, falling from $166,250to $150,000. The median sales price was still 8.0 percent higher than the median price of $143,480 in January of 2012. It was the 12th consecutive month that home prices have increased year-over-year following 18 months of declines.

Forty-four of the 53 metro areas posted higher sales prices in January than they did a year earlier, down from 48 the previous month. The areas that posted the largest price gains during the month were San Francisco, CA (+39.2%), Atlanta, GA (+38.9%), Detroit, MI (+31.1%), Phoenix, AZ (+29.1%) and Boise, ID (+28.7%).

The average number of days it took for a home to sell increased slightly but still remained low at 87 days in January, up from 84 days in December, but still lower than the 103 days it took a year ago.

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

Source:
RE/MAX

Reported by Jeff Alan

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 LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
HOW
MORTGAGELOANRATEUPDATE
WORKS
Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at MortgageLoanRateUpdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
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.

Monthly sales of existing homes fell for the third consecutive month in January according to RE/MAX’s monthly National Housing Report (NHR) but were still over nine percent higher than the previous year.

January followed December’s 4.9 percent monthly decline in closed transactions with a 22.0 percent decline but transactions for the month were still 9.1 percent higher than in January of 2012, marking the 19th consecutive month that home sales have increased year-over-year.

Forty-one out of the 53 metro areas in the report posted year-over-year increases in closed transactions, up from 34 in December. Billings, MT (+62.0%), Albuquerque, NM (+45.6%), Chicago, IL (+39.2%), Raleigh, NC (+33.4%) and Charlotte, NC (+29.2%), recorded the highest year-over-year gains in closed transactions in January.

Housing supplies continued to remain constrained with the average monthly inventory of homes for sale declining by 5.1 percent from December and 28.9 percent from January 2012. It was the 31st consecutive month that the supply of homes for sale has declined.

The average month’s supply of homes for sale fell from a revised 5.7 months supply of homes in December to a 5.0 months supply in January and was down from a 7.3 months supply in January of last year.

The median sales price of the homes sold in January was 6.6 percent lower than in the previous month of December, falling from $166,250to $150,000. The median sales price was still 8.0 percent higher than the median price of $143,480 in January of 2012. It was the 12th consecutive month that home prices have increased year-over-year following 18 months of declines.

Forty-four of the 53 metro areas posted higher sales prices in January than they did a year earlier, down from 48 the previous month. The areas that posted the largest price gains during the month were San Francisco, CA (+39.2%), Atlanta, GA (+38.9%), Detroit, MI (+31.1%), Phoenix, AZ (+29.1%) and Boise, ID (+28.7%).

The average number of days it took for a home to sell increased slightly but still remained low at 87 days in January, up from 84 days in December, but still lower than the 103 days it took a year ago.

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

Source:
RE/MAX

Reported by Jeff Alan

Home Buying Tips
Home Selling Tips
About
Mortgages
HOW
MORTGAGELOANRATEUPDATE
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 MortgageLoanRateUpdate and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
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.