.

Housing rebound continues with strong sales and price gains

The housing rebound continued in January: The pace of home sales stayed strong and prices gained the most since the boom days.

The National Association of Realtors reported that previously-owned homes sold at an annual pace of 4.92 million homes, 9% higher than this time last year.

Home prices were up 12.3%, taking the median to $173,600. That marked the biggest percentage gain since January 2005.

The price rise is being driven by tight inventories, increased demand from buyers, and a drop in sales of distressed homes, such as those in foreclosure. 

Related: Playing the housing rebound

There were 1.74 million previously-owned homes on the market , equal to only about a four-month supply at current sales levels. It's the tightest inventory of homes on the market since 1999.

If you are thinking about selling your home, now is a good time to begin your home preparation!   Contact me for a complimentary home consultation and expert market advice.  I want to ensure you receive the highest possible price for your home!

Best,

Carole Tierney
REALTOR
Coldwell Banker Residential Brokerage
781-424-4197 Text/Cell
Carole_Tierney@Yahoo.com

 

This post is contributed by a community member. The views expressed in this blog are those of the author and do not necessarily reflect those of Patch Media Corporation. Everyone is welcome to submit a post to Patch. If you'd like to post a blog, go here to get started.

Boards

More »
Got a question? Something on your mind? Talk to your community, directly.
Note Article
Just a short thought to get the word out quickly about anything in your neighborhood.
Share something with your neighbors.What's on your mind?What's on your mind?Make an announcement, speak your mind, or sell somethingPost something
See more »