Are Prices Beginning to Accelerate Again?

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Real Estate Agent with Realty Executives Boston West 113011

Are House Prices Beginning to Accelerate Again?

 

In a recent post, we explained that the supply of homes for sale in December was at its lowest level in over a year. The January National Housing Trend Report from realtor.com now reveals that inventory in January has decreased another 6.7% month over month and 8.7% year over year. This is occurring at the same time that buyer activity (demand) remains strong.

This prompted realtor.com’s Chief Economist Jonathan Smoke to report:

“January’s inventory data suggest a continuation of the tightening trend we identified last month in the December data, and with a shortage of inventory typically comes increased home prices. Half of the 200 markets realtor.com tracks experienced year-over-year price increases of at least 6% in January.”

This after the National Association of Realtors (NAR) had already reported in their latest quarterly report:

“The majority of metropolitan areas experienced steady but slightly stronger price growth in the fourth quarter of 2014, behind a decline in housing supply and an uptick in demand fueled by lower interest rates and a stronger job market.” 

Bottom Line

Whether you are a first time buyer or a move-up buyer, now may be time to purchase a home – before prices increase any further.  Prices are trending higher for sure. 

 
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Home Buying
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Massachusetts Norfolk County Needham Needham Heights
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Rainer
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Betsy N. Robinson - Serving the Sandhills, NC
Everything Pines Partners, LLC. - Whispering Pines, NC
CNS

Pat - that certainly is the case in mid-state North Carolina.  For the first time in a long time we are seeing multiple offers coming in resulting in bidding wars.  Not only is it the time to buy a home, but Sellers who have been sitting on the side lines may want to consider selling thier homes as we know these trends are cyclical and don't always last for a long time.

Feb 24, 2015 09:04 PM #1
Rainmaker
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Pat Laracy Baker
Realty Executives Boston West - Holliston, MA
Pat Baker Dream Home Maker

Hi Betsy. True. Hope we all be eft edit all around. Best to you in 201

Feb 24, 2015 09:14 PM #2
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Rainmaker
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Pat Laracy Baker

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