RE/MAX National Housing Report for December 2014

The RE/MAX National Housing Report, a survey of MLS data in 52 metropolitan areas, found the December median home price of $185,400 was 11.9 percent higher than the median in December 2012. After double-digit growth in home sales during the summer, sales cooled off, but December still saw a 0.7 percent year-over-year increase.

Slower sales growth is associated with a limited inventory of homes for sale coupled with increased lending requirements and mortgage fees. At the rate of home sales in December, the Months Supply of inventory rose to 5.9 months, nearly equal to the 6.0 supply that defines a market balanced equally between buyers and sellers.

The December RE/MAX National Housing Report found a 4.5 percent monthly increase in home sales, and a 0.7 percent increase in sales from December last year. On a year-over-year basis, home sales have increased in 29 of the last 30 months.

“It’s great that improving market fundamentals continued through the normally slower winter months, and we ended the year on a strong positive note.” Margaret Kelly, RE/MAX CEO. Click here to read the full National Housing Report for December 2013.

If you or anyone you know is considering a home purchase or sale, give me a call today. With property values and inventory stabilizing, it is a good time to considering a real estate move. Nate