Home Selling Season Starts Strong

In February, both home sales and prices rose higher than a year ago. After a

decisive housing turnaround in 2012, this year looks to improve on

recovering market trends. With data representing 52 metropolitan areas,

the February RE/MAX National Housing Report shows home sales 2.3%

greater than February 2012 and a median price 7.0% higher. Still a concern

is the number of available homes for sale, which continues to shrink, turning

the market more favorable to sellers. Home inventory fell 29.2% from last

year, resulting in a 4.8-month supply. In only the second month of the year,

real estate agents are already seeing renewed consumer interest and are

expecting increased traffic in the next few months. As home prices recover

in 2013, more homeowners will achieve positive equity and the number of

foreclosures should be reduced. The current recovery has not yet brought

housing back to pre-crisis levels, but appears on its way to a more stable and

sustainable environment.

 
RE/MAX National Housing Report March 2013RE/MAX National Housing Report March 2013

 

 

 
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Fred Adams