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Monthly Home Sales Take a Double Digit Dive in September
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You're Now Reading:
Monthly Home Sales Take a Double Digit Dive in September
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:
Monthly Home Sales Take a Double Digit Dive in September
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October 18, 2012 (Jeff Alan)

Monthly sales of existing homes took a double-digit dive in September, barely beating last year’s tally according to RE/MAX’s National Housing Report (NHR) while home prices fell for the second consecutive month but still outperformed the previous year for the eighth consecutive month.

Closed transactions of home purchases fell 17.5 percent from August to September and were only 0.5 percent higher than in September of 2011, still good enough to mark the 15th consecutive month that home sales have increased year-over-year.

Twenty-nine out of the 53 metro areas in the report posted year-over-year increases in closed transactions, down from 44 in August. Albuquerque, NM (+40.9%), Chicago, IL (+24.1%), Raleigh-Durham, NC (+22.1%), Providence, RI (+22.1%), Nashville, TN (+21.0%) and Denver, CO (+11.4%) recorded the highest year-over-year gains in closed transactions in September.

The median sales price of the homes sold in September was 2.2 percent lower than in the previous month of August, falling from $168,685 to $164,989. The median sales price was still 7.8 percent higher than the median price of $153,023 in September of 2011. It was the eighth 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 September than they did a year earlier, down from 46 metro areas the previous month. The areas that posted the largest price gains during the month were Phoenix, AZ (+33.3%), Miami, FL (+23.1%), Atlanta, GA (+23.0%), San Francisco, CA (+22.7%), Detroit, MI (+20.0%), and Boise (+16.3%).

Housing supplies continued to dwindle with the average monthly inventory of homes for sale declining by 5.3 percent from August and 29.1 percent from September 2011. It was the 27th consecutive month that the supply of homes for sale has declined.

Despite the declining inventory, the double-digit drop in sales pushed the average month’s supply of home for sale up for the first time in four months, increasing from a 4.9 months supply of homes in August to a 5.5 months supply in September but still down from a 7.7 months supply in September of last year.

The average number of days it took for a home to sale remained unchanged from August ay 81 but was still lower than the 94 days it took a year ago.

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 MortgageLoanRateUpdate 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.
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October 18, 2012 (Jeff Alan)

Monthly sales of existing homes took a double-digit dive in September, barely beating last year’s tally according to RE/MAX’s National Housing Report (NHR) while home prices fell for the second consecutive month but still outperformed the previous year for the eighth consecutive month.

Closed transactions of home purchases fell 17.5 percent from August to September and were only 0.5 percent higher than in September of 2011, still good enough to mark the 15th consecutive month that home sales have increased year-over-year.

Twenty-nine out of the 53 metro areas in the report posted year-over-year increases in closed transactions, down from 44 in August. Albuquerque, NM (+40.9%), Chicago, IL (+24.1%), Raleigh-Durham, NC (+22.1%), Providence, RI (+22.1%), Nashville, TN (+21.0%) and Denver, CO (+11.4%) recorded the highest year-over-year gains in closed transactions in September.

The median sales price of the homes sold in September was 2.2 percent lower than in the previous month of August, falling from $168,685 to $164,989. The median sales price was still 7.8 percent higher than the median price of $153,023 in September of 2011. It was the eighth 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 September than they did a year earlier, down from 46 metro areas the previous month. The areas that posted the largest price gains during the month were Phoenix, AZ (+33.3%), Miami, FL (+23.1%), Atlanta, GA (+23.0%), San Francisco, CA (+22.7%), Detroit, MI (+20.0%), and Boise (+16.3%).

Housing supplies continued to dwindle with the average monthly inventory of homes for sale declining by 5.3 percent from August and 29.1 percent from September 2011. It was the 27th consecutive month that the supply of homes for sale has declined.

Despite the declining inventory, the double-digit drop in sales pushed the average month’s supply of home for sale up for the first time in four months, increasing from a 4.9 months supply of homes in August to a 5.5 months supply in September but still down from a 7.7 months supply in September of last year.

The average number of days it took for a home to sale remained unchanged from August ay 81 but was still lower than the 94 days it took a year ago.

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 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.

October 18, 2012 (Jeff Alan)

Monthly sales of existing homes took a double-digit dive in September, barely beating last year’s tally according to RE/MAX’s National Housing Report (NHR) while home prices fell for the second consecutive month but still outperformed the previous year for the eighth consecutive month.

Closed transactions of home purchases fell 17.5 percent from August to September and were only 0.5 percent higher than in September of 2011, still good enough to mark the 15th consecutive month that home sales have increased year-over-year.

Twenty-nine out of the 53 metro areas in the report posted year-over-year increases in closed transactions, down from 44 in August. Albuquerque, NM (+40.9%), Chicago, IL (+24.1%), Raleigh-Durham, NC (+22.1%), Providence, RI (+22.1%), Nashville, TN (+21.0%) and Denver, CO (+11.4%) recorded the highest year-over-year gains in closed transactions in September.

The median sales price of the homes sold in September was 2.2 percent lower than in the previous month of August, falling from $168,685 to $164,989. The median sales price was still 7.8 percent higher than the median price of $153,023 in September of 2011. It was the eighth 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 September than they did a year earlier, down from 46 metro areas the previous month. The areas that posted the largest price gains during the month were Phoenix, AZ (+33.3%), Miami, FL (+23.1%), Atlanta, GA (+23.0%), San Francisco, CA (+22.7%), Detroit, MI (+20.0%), and Boise (+16.3%).

Housing supplies continued to dwindle with the average monthly inventory of homes for sale declining by 5.3 percent from August and 29.1 percent from September 2011. It was the 27th consecutive month that the supply of homes for sale has declined.

Despite the declining inventory, the double-digit drop in sales pushed the average month’s supply of home for sale up for the first time in four months, increasing from a 4.9 months supply of homes in August to a 5.5 months supply in September but still down from a 7.7 months supply in September of last year.

The average number of days it took for a home to sale remained unchanged from August ay 81 but was still lower than the 94 days it took a year ago.

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

Source:
RE/MAX

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.