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RE/MAX: Stabilizing Market, Dwindling Inventories Means Higher Prices Next Year
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You're Now Reading:
RE/MAX: Stabilizing Market, Dwindling Inventories Means Higher Prices Next 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:
RE/MAX: Stabilizing Market, Dwindling Inventories Means Higher Prices Next Year
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December 22, 2011 (Jeff Alan)

With home sales and prices stabilizing and housing inventories dwindling, home prices are expected to rebound during next year’s spring and summer selling season according to RE/MAX’s National Housing Report (NHR).

Closed transactions of home purchases increased 1.4 percent from October to November and were 8.1 percent higher than in November 2010, the fifth consecutive month 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. Last month 38 of the metro areas posted an increase in transactions. New Orleans, LA (+31.0%), Nashville, TN (+30.1%), Wilmington, DE (+28.0%), Omaha, NE (+25.9%), and Seattle, WA (+23.4%) recorded the highest gains in closed transactions in November.

The median sales price of homes sold in November was 1.4 percent higher than in the previous month of October, increasing from $176,770 to $181,322. The median sales price was still 4.2 percent lower than the median price of $189,353 in November of 2010.

Thirty-three of the 53 metro areas posted higher sales prices in November than they did a year earlier, up from 11 metro areas last month. The areas that posted the largest price gains during the month were Orlando, FL (+8.5%), Miami, FL (+6.1%), Detroit, MI (+5.9%), Houston, TX (+2.6%), and Denver, CO (+2.3%).

The average number of days it took to sell a home in November was 97, which was 2 days longer than the 95 days it took in October. The average month’s supply of inventory in November increased to 7.8 months from 7.7 months in October, but was still down from a 10.0 month supply of homes in November 2010.

For all 53 metro areas, the average monthly inventory of homes for sale declined by 9.3 percent from October and was 23.7 percent lower than in November 2010. It was the 17th consecutive month that the supply of homes for sale has declined.

Margaret Kelly, CEO of RE/MAX, LLC., stated, “This market is trying hard to stabilize itself with home sales significantly stronger than one year ago, even though we are entering the holiday season when sales traditionally decline. With sales trending higher and inventory falling, we would expect the result to be rebounding prices when we enter the stronger selling season next spring and summer.”

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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Tips
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Calculator
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Rates

December 22, 2011 (Jeff Alan)

With home sales and prices stabilizing and housing inventories dwindling, home prices are expected to rebound during next year’s spring and summer selling season according to RE/MAX’s National Housing Report (NHR).

Closed transactions of home purchases increased 1.4 percent from October to November and were 8.1 percent higher than in November 2010, the fifth consecutive month 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. Last month 38 of the metro areas posted an increase in transactions. New Orleans, LA (+31.0%), Nashville, TN (+30.1%), Wilmington, DE (+28.0%), Omaha, NE (+25.9%), and Seattle, WA (+23.4%) recorded the highest gains in closed transactions in November.

The median sales price of homes sold in November was 1.4 percent higher than in the previous month of October, increasing from $176,770 to $181,322. The median sales price was still 4.2 percent lower than the median price of $189,353 in November of 2010.

Thirty-three of the 53 metro areas posted higher sales prices in November than they did a year earlier, up from 11 metro areas last month. The areas that posted the largest price gains during the month were Orlando, FL (+8.5%), Miami, FL (+6.1%), Detroit, MI (+5.9%), Houston, TX (+2.6%), and Denver, CO (+2.3%).

The average number of days it took to sell a home in November was 97, which was 2 days longer than the 95 days it took in October. The average month’s supply of inventory in November increased to 7.8 months from 7.7 months in October, but was still down from a 10.0 month supply of homes in November 2010.

For all 53 metro areas, the average monthly inventory of homes for sale declined by 9.3 percent from October and was 23.7 percent lower than in November 2010. It was the 17th consecutive month that the supply of homes for sale has declined.

Margaret Kelly, CEO of RE/MAX, LLC., stated, “This market is trying hard to stabilize itself with home sales significantly stronger than one year ago, even though we are entering the holiday season when sales traditionally decline. With sales trending higher and inventory falling, we would expect the result to be rebounding prices when we enter the stronger selling season next spring and summer.”

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.

December 22, 2011 (Jeff Alan)

With home sales and prices stabilizing and housing inventories dwindling, home prices are expected to rebound during next year’s spring and summer selling season according to RE/MAX’s National Housing Report (NHR).

Closed transactions of home purchases increased 1.4 percent from October to November and were 8.1 percent higher than in November 2010, the fifth consecutive month 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. Last month 38 of the metro areas posted an increase in transactions. New Orleans, LA (+31.0%), Nashville, TN (+30.1%), Wilmington, DE (+28.0%), Omaha, NE (+25.9%), and Seattle, WA (+23.4%) recorded the highest gains in closed transactions in November.

The median sales price of homes sold in November was 1.4 percent higher than in the previous month of October, increasing from $176,770 to $181,322. The median sales price was still 4.2 percent lower than the median price of $189,353 in November of 2010.

Thirty-three of the 53 metro areas posted higher sales prices in November than they did a year earlier, up from 11 metro areas last month. The areas that posted the largest price gains during the month were Orlando, FL (+8.5%), Miami, FL (+6.1%), Detroit, MI (+5.9%), Houston, TX (+2.6%), and Denver, CO (+2.3%).

The average number of days it took to sell a home in November was 97, which was 2 days longer than the 95 days it took in October. The average month’s supply of inventory in November increased to 7.8 months from 7.7 months in October, but was still down from a 10.0 month supply of homes in November 2010.

For all 53 metro areas, the average monthly inventory of homes for sale declined by 9.3 percent from October and was 23.7 percent lower than in November 2010. It was the 17th consecutive month that the supply of homes for sale has declined.

Margaret Kelly, CEO of RE/MAX, LLC., stated, “This market is trying hard to stabilize itself with home sales significantly stronger than one year ago, even though we are entering the holiday season when sales traditionally decline. With sales trending higher and inventory falling, we would expect the result to be rebounding prices when we enter the stronger selling season next spring and summer.”

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.