February 2013 RE/MAX National Housing Report

According to the RE/MAX National Housing Report, the selling season in 2012 started early and continued through the whole year. Now, the New Year is starting at levels even higher than last January.

The January RE/MAX National Housing Report shows the recovery continues with sales up 9.1percent and prices up 8.0 percent from January last year. Falling inventories are both a positive and negative factor for the recovery. They have pushed prices higher, which helps underwater homeowners, but have also created a shortage of homes for potential buyers. The inventory of homes for sale remains 28.9 percent below the levels seen in January 2012.

With fewer distressed properties and underwater homes, more home sellers in 2013 may be persuaded to place their homes on the market and move up. As the inventory issue works its way back to a traditional balance, the housing market should continue a robust recovery in 2013.

“We saw a strong start to 2012 last January, and this year is starting with an even higher number of sales and increased prices,” said Margaret Kelly, CEO of RE/MAX, LLC. “Such an impressive start to the new year is hopefully pointing to an even stronger performance for the entire year. Expect the 2013 housing market to continue the solid recovery that began one year ago.”

Click here to read the full RE/MAX National Housing Report for February.

Source: RE/MAX LLC