2013 Shows Improvements for Home Sales

By
Real Estate Agent with RE/MAX Exclusive Collection

We're about two months into 2013 now, and reports are coming in that show the recovery taking place throughout 2012 is still continuing on strong in the new year.

January saw the pace of new home sales at 321,000, which surpassed government forecasts and beat out the numbers shown in December. Overall, January was about 6 percent over original estimates, which is great news when you take into account that these estimates were already measured with growth in mind.

Another continuing trend is the shortage of new homes for sale, in which January saw itself as the 11th straight month where new home inventory was at a record low. There were 151,000 new homes added to the market in January, with a median price of $217,100. This saw a small increase of $600 from the previous month.

Home values actually went up across the board, with Zillow reporting their home value index at $158,100 for January. This is a new peak for prices since June of 2004, and a 6.2 percent year-over-year improvement. Signs are definitely pointing to a recovery, meaning that if you've been holding out, now may be the time to act.

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