RE/MAX National Housing Report: Softer Home Sales Start the New Year

NHRFeb2015

According to the February RE/MAX National Housing Report, home sales are similar to 2014 and starting the year at a slower pace. January home sales were 3.9% lower than sales in January 2014. Last year, sales improved dramatically during the spring and summer months and three of the last four months of 2014 recorded higher sales than one year earlier.

With a constrained inventory, the January Median Price rose by 11.2% over last January. And the inventory of homes for sale was 10.9% lower than one year ago. At the current rate of sales, the corresponding Months Supply of inventory fell slightly to 5.2 on a scale where 6.0 indicates a market balanced equally between buyers and sellers.

This is an excerpt; view the complete February RE/MAX National Housing Report here.

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