RE/MAX: Mixed Picture On January Home Sales

Posted by Orb Staff on February 15, 2013 No Comments
Categories : Residential Mortgage

13305_house_green RE/MAX: Mixed Picture On January Home Sales January home sales were 22% lower than the number of sales in December, but were 9.1% above January 2011 levels, according to new data released by RE/MAX, which adds that January was the 19th month in a row with sales higher than the same month in the previous year.

Of the 52 metro areas surveyed in the January RE/MAX National Housing Report, 41 reported higher sales than January 2012. Of those 41 metropolitan areas, 31 reported double-digit gains over last January's sales, most notably with a 62% increase in Billings, Mont., and a 45.6% spike in Albuquerque, N.M.

January median prices fell 6.6% lower than December prices. However, the $155,000 median price for all homes sold in January was 8% higher than the price seen in January 2012. For the 12th consecutive month, January reported a higher median price than the same month of the previous year, according to RE/MAX.

‘We saw a strong start to 2012 last January, and this year is starting with an even higher number of sales and increased prices,’ says Margaret Kelly, CEO of RE/MAX LLC. ‘Such an impressive start to the new year is hopefully pointing to an even stronger performance for the entire year. Expect the 2013 housing market to continue the solid recovery that began one year ago.’

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