National Housing Report on track for seasonal trends

The real estate market is right on track for seasonal trends according to the most recent RE/MAX National Housing Report. According to the January data, home sales were 6.3 percent higher than those from one year ago with anticipated seasonal trends resulting in 31.7 percent fewer sales in January than December. The Median price of all homes sold in January was $200,714, or 6.7 percent higher than January 2015.

The inventory of homes for sale remains very tight in many metros across the country, at a level that is 14.7 percent lower than one year ago. At the rate of home sales in January, the national Month’s Supply of inventory was 4.6, down from 5.2 one year ago. Over the last twelve months, the average year-over-year increase in sales has been 5.6 percent and only two months, November and October, did not rise above year-ago sales.

The average Days on Market for all homes sold in January was seventy-one, up four days from the average in December. January becomes the thirty-fourth consecutive month with a Days on Market average of eighty or less.

“While home sales in the month of January are usually a little slow, it’s nice to start the year with stronger sales than we saw last January. Mortgage interest rates remain about the same as one year ago and very close to historic lows. More reasonable price appreciation is giving current homeowners improved equity, while not significantly impacting affordability for buyers,” said Dave Liniger, RE/MAX CEO, Chairman of the Board and Co-Founder.

For a copy of this month’s national housing report infographic, visit http://rem.ax/216Glx3 or click here to download your copy of the RE/MAX February 2016 National Housing Report. Looking to sell your home or buy a home in Phoenix? Contact the Regal Team today! We offer unparalleled service to all clients in the Phoenix, Arizona real estate market. The Regal Team has in-depth knowledge of the market and can provide you with the information you need on purchasing, selling, investing, financing and owning real estate in the Valley of the Sun. Your complete satisfaction with our service and representation is our number one priority!

Melissa Dierks

The Regal Team of RE/MAX Professionals

7111 W Bell Road, Suite 101

Glendale, AZ 85308

(623) 229-0154

www.theregalteam.com

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