Housing: Year End Reports Reveal Market Coming Back

by The KCM Crew on January 2, 2013

 

 

Every year-end housing report revealed that the real estate market is recovering quite nicely. Here is a quick synopsis of each:

 

Existing Home Sales Report

 

• Total existing-home sales rose 5.9 percent in November over last month
• Sales are 14.5 percent higher than November 2011
• Sales are at the highest level since November 2009
• The national median existing-home price was $180,600 in November, up 10.1 percent from November 2011
• Total housing inventory at the end of November fell to a 4.8-month supply; it was 5.3 months in October, and is the lowest housing supply since September of 2005 when it was 4.6 months

Pending Sales Report

• Pending home sales increased in November for the third straight month and reached the highest level in two-and-a-half years
• The index is at the highest level since April 2010 when buyers were rushing to beat the deadline for the home buyer tax credit
• With the exception of several months affected by tax stimulus, the last time there was a higher reading was in February 2007
• On a year-over-year basis, pending home sales have risen for 19 consecutive months

New Home Sales Report

• Sales of new homes rose 4.4% in November to a two-and-a-half-year high
• This is the highest level since April 2010, when a temporary tax credit boosted demand.
• Sales are now 15.3% higher compared to one year ago

Case Shiller Home Price Index

• Home prices rose 4.3% in the 12 months ending in October
• In nineteen of the 20 cities covered, annual returns in October were higher than September.

If you are thinking of buying a home in or around Bristol County MA or RI, please visit www.DistinctiveHomes-NE.com for a free list of homes for sale in Westport MA and surrounding towns.

Would you like to receive a current market update of your specific area? Contact me with your request.

If you are thinking of selling your home contact me for a FREE Current Market Analysis and to learn about our Market Plan to get your home SOLD!

We work with one going in mind, YOURS!

Noemi Cardoso

Local Office. Local Agents. Local Knowledge.

William Raveis Real Estate
911 Main Rd - Westport MA 02790
Cell: 508-558-1945
www.DistinctiveHomes-NE.com
noemi@DistinctiveHomes-NE.com