January 2015 RE/MAX National Housing Report

It looks like the New Year is already off to a good start for the real estate market. According to the January 2015 RE/MAX National Housing Report, home sales in December defied normal trends and rose above the number of November sales by a significant 14.4 percent.  Sales were also 3.9 percent above those of last December. Home prices in December were also higher than one year ago, rising 5.9 percent. Because inventory has generally moved in a positive direction this year and demand has been slightly below 2013 levels, home prices have not been rising as rapidly as last year.

Although home sales in 2014 have generally been lower than those in 2013, during the last four months of the year, three have seen more sales than the same month last year. In fact, a total of forty-two metro areas reported higher sales on a year-over-year basis and twelve reported double-digit increases. On a year-over-year basis, the Median Sales Price has now risen for thirty-five consecutive months.

“After a sluggish start, it’s nice to see the year end on a positive note. Even though we’re well into the winter months, homebuyers felt confident enough to enter the market in greater numbers than just one month ago. And with prices rising at a much slower rate than last year, sellers continue to increase their equity, while buyers don’t feel priced out of the market.” -Dave Liniger, RE/MAX, LLC CEO, Chairman and Co-Founder

For more information, click here to download a copy of the January 2015 National Housing Report.

If you’re looking to sell your Arizona home or to purchase an Arizona home this year, please contact the Russo Team today and receive a complimentary analysis of your home’s approximate present value on the market today. Your complete satisfaction with our service and representation is always our number one priority. -Frank


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