Housing Trends Newsletter For March 2015

Housing Trends Newsletter For March 2015

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National Market Update

Existing-Home Sales Slightly Improve in February, Price Growth Gains Steam

WASHINGTON (March 23, 2015) – Existing-home sales increased modestly in February, but constrained inventory levels pushed price growth to its fastest pace in a year, according to the National Association of Realtors®.

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National Housing Indicators

Existing home sales (March)

4.88 millions units*

Existing home median price (March)

$202,600

Housing Starts (March)

8.97 millions units*

New home sales (March)

4.81 millions units*

*Seasonally adjusted annual rate. Source: NATIONAL ASSOCIATION OF REALTORS®.

National Economic Indicators

Home ownership

4th Qtr 2014

+64.0%

4th Qtr 2013

+65.2%

The homeownership rate in the fourth quarter 2014 was 64.0 percent, down 1.2 (+/- 0.4) percentage points from the fourth quarter 2013 rate of 65.2 percent. The homeownership rates in the Northeast, Midwest and South were lower than the rates in the fourth quarter 2013, while the rate in the West was not statistically different from the rate a year ago.

New home sales

February 2015

+7.8*%

January 2015

+4.4*%

Sales of new single-family houses in February 2015 were at a seasonally adjusted annual rate of 539,000. This is 7.8 percent (+/- 15.2%)* above the revised January 2015 estimate of 500,000.

Source: U.S. CENSUS BUREAU

Regional Market Updates

View market statistics for your region.

Click on the links below to view data from two different industry sources. Choose information on local prices & state sales from any of 150 metropolitan housing markets prepared by the National Association of REALTORS® or information on sales & price activity from local area markets in 25 states prepared by Clarus MarketMetrics.

Existing Home Statistics

View statistics based on national data, regional data and data gathered from 159 cities & metropolitan areas.

Housing Trends Newsletter March 2015 is a post from Life and Real Estate in Campbell CA.

September 2013 Real Estate Market Update

by Richard Hebert Jr., September 9, 2013,  KW Realtor®, www.innexussis.com.

Santa Clara County real estate sales follow decrease in supply of new listings. Consumer demand remains high as buyers have digested higher mortgage rates- resellers respond with softening of list prices to accommodate the change and generate quicker sales. Time on market is shorter for 2013, than that reported for 2012 (less than 30 days). Price appreciation continues to reflate the rebound of the Silicon Valley real estate market, though house prices are undervalued about 20%, compared with the local RE market peak of April 2006.