ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN MOBILE AL - 02/11/2013

Your FREE ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN MOBILE AL- 02/11/2013 list has been posted.

Home prices show strongest growth in 7 years

The median home price nationwide saw its biggest jump in seven years last quarter as for-sale inventory hit its lowest level in 12 years, according to a quarterly report from the National Association of Realtors.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN MOBILE AL

Of 152 metro areas, 133 (87.5 percent) saw their median sales prices rise year over year in fourth-quarter 2012 compared with 120 in the third quarter and only 29 in fourth-quarter 2011.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN MOBILE AL

Nationally, the median sales price jumped 10 percent on an annual basis, to $178,900 -- the strongest annual price increase since fourth-quarter 2005 when the median rose 13.6 percent, NAR said.

More housing construction is needed to relieve some of the pressure in the market and keep home prices from overheating, Yun added.

NAR said some of the price growth could be attributed to a shrinking share of lower-priced homes. Distressed properties, typically sold at a discount compared to traditional homes, accounted for 23 percent of sales in the fourth quarter, down from 30 percent in fourth-quarter 2011, the report said.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN MOBILE AL

Total U.S. existing-home sales rose 12.1 percent year over year and 5 percent quarter-to-quarter to a seasonally adjusted annual rate of 4.9 million -- the highest level since fourth-quarter 2009 when sales hit 4.95 million, NAR said.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN MOBILE AL

Unsold inventory of existing homes stood at 1.82 million at the end of the fourth quarter, down 21.6 percent year over year. That's the lowest level since January 2001 when there were 1.78 million unsold homes, the report said.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN MOBILE AL

The increase in the national median home price last quarter was partly driven by inventory shortages in the West that helped push up the median price in that region 20.1 percent year over year, to $245,200. Existing-home sales in the West rose by the smallest share of the four regions last quarter, 5 percent on an annual basis to a seasonally adjusted rate of 1.19 million.

In the South, existing-home sales rose 13.2 percent on an annual basis last quarter, to 1.95 million. The region's median sales price increased 9.1 percent year over year to $160,100.