May 17, 2013

NATIONAL HOUSING REPORT May 2013 NATIONAL HOUSING REPORT Volume 57: April 2013 Data

Filed under ( Uncategorized ) — admin @ 10:59 am

Home Prices, Sales Increase: Inventory Improves
Low inventory has characterized the housing recovery for several months,
but may be finally showing signs of improvement.  The number of homes for
sale in April inched 1.6% higher than the number seen in March, the first
monthly increase since June 2010.  At the same time, Closed Transactions
and Median Prices both remained 10% higher than last year’s levels. The
April RE/MAX National Housing Report, a survey of MLS data from 52 U.S.
metropolitan areas, contained signs of a strong housing recovery in regions
across the country.  Low inventories contribute to a limited growth in sales,
preventing some buyers from closing on the home of their choice.  But if
inventories can rise to a more balanced level, the recovery should
strengthen and experience even more home sales. The Months Supply of
homes for sale at April’s pace of sales was just 3.6 months, the lowest supply
since the RE/MAX National Housing Report began in August 2008.   A
balanced market is achieved with a Months Supply of 6.

“April was exactly what we needed at this time in the housing recovery. Home sales and prices continued to rise, while we started to see improvement in the number of homes for sale,” said Margaret Kelly, CEO of RE/MAX, LLC.  “It may take a few months, but as prices rise and more homeowners gain positive equity, we should see an increase in the inventory of homes for sale, resulting in a much better selection for potential homebuyers.”

MEDIAN SALES PRICE
The Median Price for all homes sold in April  was $177,200, which was 4.7% higher than the median price in March and 10.7% higher than the price in April 2012. For 15 months in a row, the Median Price has been  higher than in the same month of the previous year. Until the inventory balances, home prices  should remain higher than those in the previous year. Of the 52 metro areas surveyed in April, four saw their Median Price drop below last year’s price: Los Angeles, CA - 9.1%, Albuquerque, NM -6.3%, Cleveland, OH -1.8% and Providence, RI -0.3%.  However, a total of 48 metros saw year-over-year price increases, with 21 reporting double-digit increases, including:  Detroit, MI +44.1%, San Francisco, CA +42.2%, Atlanta, GA +38.9%, Las Vegas, NV +31.6%, Orlando, FL +24.6% and Phoenix, AZ +23.8%.

MONTHS SUPPLY OF INVENTORY – AVERAGE OF 52 METRO AREAS
For the first time since June 2010, the number of homes for sale in April increased on a month-to-month basis, +1.6% from March.  Also, the percentage drop on a year-to-year basis is the lowest annual drop in the last 12 months, 26.6%. It’s possible April marked a turning point for the nation’s inventory of homes for sale. Of the 52 metro areas in the April survey, only two reported a rise in overall inventory from last year: Manchester, NH +3.1% and Phoenix, AZ +1.0%.   Extremely low Months Supply levels continue to be seen in cities like: San Francisco, CA  1.0,  Denver, CO  1.2,  Washington, DC  1.6, San Diego, CA 1.8, Seattle, WA 1.8, Boise, ID 1.8, Orlando, FL 2.1, Detroit, MI  2.1, and Houston, TX 2.2.

The April RE/MAX Housing Report showed a 8.1% increase in Closed Transactions over March and a 10.5% increase over sales in April 2012.   This makes April the 22nd month in a row experiencing higher sales than the same month in the previous year.  Real estate agents across the country are reporting increased
traffic and expect the upcoming summer selling season to be even stronger than last summer. Of the 52 metro areas surveyed in April, 41 reported higher sales than April 2012, and 25 reported double-digit gains, including: Honolulu, HI +53.2%, Burlington, VT +40.3%, Albuquerque, NM +40.2%, Charlotte, NC +39.4%, Raleigh & Durham, NC +38.1% and Chicago, IL +33.4%.

The average Days on Market for all homes sold in April was only 77.  This is eight days lower than the 85 day average in March, and a significant 19 days below the 96 day average in April 2012.  The 77 day April average is the 11th time in the past year that the Days on Market average has been below 90.  A reduced Days on Market is the direct result of a market with low inventory and high demand.  Days on Market is the number of days between when a home is first listed in an MLS and when a sales contract is signed.

CONTACT
For specific data in this report or to request an interview, please contact (303) 796-3405 or shaunwhite@remax.com.

ABOUT THE RE/MAX NETWORK
RE/MAX was founded in 1973 by Dave and Gail Liniger, real estate industry visionaries who still lead the Denver-based global franchisor today. RE/MAX is recognized as a leading real estate franchisor with the most productive sales force in the industry and a global reach of more than 85 countries. With a passion for the communities in which its agents live and work, RE/MAX is proud to have raised more than $120 million for Children’s Miracle Network Hospitals, Susan G. Komen for the Cure® and other charities. Nobody in the world sells more real estate than RE/MAX. Please visit www.remax.com or www.joinremax.com.

DESCRIPTION
The RE/MAX National Housing Report is distributed each month on or about the 15th. The first Report was distributed in August 2008. The Report is based on MLS data in approximately 53 metropolitan areas, includes all residential property types, and is not annualized. For maximum representation, many of the
largest metro areas in the country are represented, and an attempt is made to include at least one metro from each state. Metro area definitions include the specific counties established by the U.S. Government’s Office of Management and Budget, with some exceptions.

DEFINITIONS
Transactions are the total number of closed residential transactions during the given month.  Month’s Supply of Inventory is the total number of residential properties listed for sale at the end of the month (active inventory) divided by the number of sales contracts signed (pended) during the month.  Where
“pended” data is unavailable, this calculation is made using closed transactions.  Days on Market is the number of days that pass from the time a property is listed until the property goes under contract for all residential properties sold during the month.  Median Sales Price is the median price of all residential
properties sold during the month.

MLS data is provided by contracted data aggregators, RE/MAX brokerages and regional offices.  While MLS data is believed to be accurate, it cannot be guaranteed.  MLS data is constantly being updated, making any analysis a snapshot at a particular time.  Every month the RE/MAX National Housing Report
re-calculates the previous period’s data to ensure accuracy over time.  All raw data remains the intellectual property of each local MLS organization.

© copyright 2013 RE/MAX, LLC

March 18, 2013

REMAX National Housing Report - March 2013

Filed under ( Uncategorized ) — admin @ 7:29 pm

March 2013 NATIONAL HOUSING REPORT
Volume 55: February 2013 Data


Home Selling Season Starts Strong

In February, both home sales and prices rose higher than a year ago. After a decisive housing turnaround in 2012, this year looks to improve on recovering market trends. With data representing 52 metropolitan areas, the February RE/MAX National Housing Report shows home sales 2.3% greater than February 2012 and a median price 7.0% higher. Still a concern is the number of available homes for sale, which continues to shrink, turning the market more favorable to sellers. Home inventory fell 29.2% from last year, resulting in a 4.8 - month supply. In only the second month of the year, real estate agents are already seeing renewed consumer interest and are expecting increased traffic in the next few months. As home prices recover in 2013, more homeowners will achieve positive equity and the number of foreclosures should be reduced. The current recovery has not yet brought housing back to pre - crisis levels, but appears on its way to a more stable and sustainable environment.
“It’s clear that the housing recovery is real and is moving full - speed ahead into 2013,” said Margaret Kelly, CEO of RE/MAX, LLC. “Consumers recognize that we’ve hit the bottom, and real estate is offering some great opportunities with low prices and low interest rates. This is an attractive combination that most of us will never see again in our lifetimes.”

TRANSACTIONS - YEAR - OVER - YEAR CHANGE

Closed transactions for the 52 metro areas included in the February report showed a 0.9% increase over January sales and a 2.3% rise over home sales in February 2012. February is the twentieth month in a row with sales higher than the same month in the previous year.
“Move - up” buyers now appear to be outnumbering investors and first - time buyers, marking a return to a more traditional market makeup. Of the 52 metro areas surveyed in the February RE/MAX National Housing Report, 29 reported higher sales than February 2012, and 10 reported double - digit gains over last February’s sales, including: Boise, ID +21.6%, Burlington, VT +15.4%, Las Vegas, NV +14.1%, Phoenix, AZ +14.0%, Houston , TX +11.4%, and Raleigh & Durham, NC +11.2 %.

MEDIAN SALES PRICE
The Median Price in February was $160,500, which was 3.5% above the price in January, and 7.0% higher than the median price in February 2012. For 13 months in a row, the median price has been higher than in the same month of the previous year. Prices are clearly benefiting from the reduced number of homes listed for sale. Only four metro areas recorded a drop in sales price: Los Angeles, CA - 8.7%, Hartford, CT - 7.2%, Trenton, NJ - 3.0% and Anchorage, AK - 2.1%. However, a total of 48 metros saw year - over - year price increases, with 21 reporting double - digit increases, including : Atlanta, GA +50.0 %, Detroit , MI +40.2%, San Francisco, CA +35.9%, Las Vegas, NV +32.4%, Phoenix, AZ +30.1%, and Miami, FL +23.1%.

DAYS ON MARKET - AVERAGE OF 52 METRO AREAS
The average Days on Market for homes sold in February was 89. This is a slight increase of 2 days from the average in January, but a significant drop from the 103 average one year ago. February’s average of 89 days marks the ninth time in the past year that the Days on Market average has been below 90. Days on Market remains low due to an overall reduced inventory, and is the number of days between when a home is first listed in an MLS and when a sales contract is signed.


MONTHS SUPPLY OF INVENTORY - AVERAGE OF 52 METRO AREAS

Compared to January, February saw a 2.7% reduction in the number of homes listed for sale. A month - to - month loss of inventory has now occurred for 14 straight months. February’s inventory also fell 29.1% from one year ago. To a large extent, rising prices can be attributed to a shrinking inventory, but fewer homes on the market can limit buyers’ choices and slow the recovery. With the February rate of home sales, the average Months’ Supply was 4.8, nearly unchanged from the 5.0 - month supply in January, but much lower than the 6.6 - month supply in February 2012. Extremely low supply levels continue to be seen in cities like: San Francisco, CA 1.1, Denver, CO 1.6, Washington, DC 2.0, San Diego, CA 2.1, Orlando, FL 2.1, Seattle, WA 2.1, Boise, ID 2.5, Detroit, MI 2.5, and Los Angeles, CA 3.0.

CONTACT

For specific data in this report or to request an interview, please contact (303) 796 - 3405 or shaunwhite@remax.com.

ABOUT THE RE/MAX NETWORK
RE/MAX was founded in 1973 by Dave and Gail Liniger, real estate industry visionaries who still lead the Denver - based global franchisor today. RE/MAX is recognized as a leading real estate franchisor with the most productive sales force in the industry and a global reach of more than 85 countries. With a passion for the communities in which its agents live and work, RE/MAX is proud to have raised more than $120 million for Children’s Miracle Network Hospitals, Susan G. Komen for the Cure® and other charities. Nobody in the world sells more real estate than RE/MAX. Please visit www.remax.com or www.joinremax.com.

DESCRIPTION
The RE/MAX National Housing Report is distributed each month on or about the 15 the. The first Report was distributed in August 2008. The Report is based on MLS data in approximately 53 metropolitan areas, includes all residential property types, and is not annualized. For maximum representation, many of the largest metro areas in the country are represented, and an attempt is made to include at least one metro from each state. Metro area definitions include the specific counties established by the U.S. Government’s Office of Management and Budget, with some exceptions.

DEFINITIONS
Transactions are the total number of closed residential transactions during the given month. Month’s Supply of Inventory is the total number of residential properties listed for sale at the end of the month (active inventory) divided by the number of sales contracts signed (pended) during the month. Where “pended” data is unavailable, this calculation is made using closed transactions. Days on Market is the number of days that pas s from the time a property is listed until the property goes under contract for all residential properties sold during the month. Median Sales Price is the median price of all residential properties sold during the month.
MLS data is provided by contracted data aggregators, RE/MAX brokerages and regional offices. While MLS data is believed to be accurate, it cannot be guaranteed. MLS data is constantly being updated, making any analysis a snapshot at a particular time. Every month the RE/MAX National Housing Report re - calculates the previous period’s data to ensure accuracy over time. All raw data remains the intellectual property of each local MLS organization.

© copyright 2012 RE/MAX, LLC

May 26, 2012

RE/MAX National Housing Report

Filed under ( General News, Real Estate ) — Tags: — admin @ 8:42 am

May 2012
Volume 45

Home Prices & Sales Trend Higher, Recovery Continues

The national median home price rose for the third straight month in April, indicating that a housing recovery is strengthening in 2012. In the 53 metropolitan areas surveyed by the RE/MAX National Housing Report, median home prices were 3.2% higher than March and a solid 5.9% higher than April 2011. After 18 consecutive months of year-over-year price declines, February was the first month home prices experienced an increase. Now, March and April have followed suit creating a positive trend. The market continues to show strength with home sales 4.1% higher than April 2011. April becomes the 10th month sales have pushed higher than the same month a year earlier. Inventory, Month’s Supply and Days on Market are all trending lower. With current levels of sales and inventory, an expected up-tick in foreclosure properties could be absorbed if they come to market over a reasonable time frame.

“It’s encouraging to see several improving economic and housing indicators, which are pointing to a continuing real estate recovery,” said Margaret Kelly, CEO of RE/MAX, LLC. “While home prices are still low and interest rates remain at historically low levels, it’s likely that many more potential homebuyers will leave the sidelines and jump into this market.

MEDIAN SALES PRICE

The Median Sales Price of homes sold in April was $161,000. This price is 3.2% higher than the March median price and 5.9% higher than the median price seen a year ago. April is the third consecutive month in the last 21 months to experience a year-over-year increase. The April RE/MAX National Housing Report of 53 metro areas revealed that 43 metro areas saw price increases over last year, 12 posted double digit gains including: Phoenix, AZ +25.4%, Detroit, MI +25.4%, Miami, FL +24.0%, Denver, CO +15.0%, Omaha, NE 14.9%, and Tampa, FL +14.7%.

(Note: Median Sales Price is now being calculated as a straight median within and among all metro areas and is no longer being weighted)

The average Days on Market for all homes sales in the month of April was 96, a significant drop from the 101 days seen in March and also lower than the 98 average seen in April 2011. In a market with a dwindling inventory and increased sales, Days on Market is expected to fall. However, in the last 12 months, the average Days on Market was recorded below 90 for only two months. July and September 2011 both reported 88. Days on Market is the number of days between first being listed in an MLS and when a sales contract is signed.

MONTHS SUPPLY OF INVENTORY–AVERAGE OF 53 METRO AREAS

In the 53 surveyed metro areas, the inventory of homes for sale fell 3.7% from March and was 25.6% lower than the inventory of homes for sale in April 2011. Mostly due to fewer foreclosure properties coming to market, month-to-month inventories have now fallen for 22 consecutive months. At the current rate of sales, the average Months Supply is now 5.3, the same as March, but two months lower than the 7.1 supply a year ago. Months Supply is the number of months it would take to clear a market’s active inventory
at the current rate of sales. A six-month supply is considered
a balanced market between buyers and sellers.

ABOUT THE RE/MAX NETWORK

RE/MAX was founded in 1973 by Dave and Gail Liniger, real estate industry visionaries who still lead the Denver-based global franchisor today. RE/MAX is recognized as a leading real estate franchisor with the most productive sales force in the industry and a global reach of more than 80 countries. With a passion for the communities in which its agents live and work, RE/MAX is proud to have raised more than $120 million for Children’s Miracle Network Hospitals, Susan G. Komen for the Cure® and other charities. Nobody in the world sells more real estate than RE/MAX. Please visit www.remax.com or www.joinremax.com.

DESCRIPTION

The RE/MAX National Housing Report is distributed each month on or about the 15th. The first Report was distributed in August 2008.The Report is based on MLS data in approximately 53 metropolitan areas, includes all residential property types, and is not annualized. For maximum representation, many of the largest metro areas in the country are represented, and an attempt is made to include at least one metro from each state. Metro area definitions include the specific counties established by the U.S. Government’s Office of Management and Budget, with some exceptions.

DEFINITIONS

Transactions are the total number of closed residential transactions during the given month. Month’s Supply of Inventory is the total number of residential properties listed for sale at the end of the month (active inventory) divided by the number of sales contracts signed (pended) during the month. Where “pended” data is unavailable, this calculation is made using closed transactions. Days on Market is the number of days that pass from the time a property is listed until the property goes under contract for all residential properties sold during the month. Median Sales Price is the median price of all residential properties sold during the month.

MLS data is provided by contracted data aggregators, RE/MAX brokerages and regional offices. While MLS data is believed to be accurate, it cannot be guaranteed.MLS data is constantly being updated, making any analysis a snapshot at a particular time.Every month the RE/MAX National Housing Report re-calculates the previous period’s data to ensure accuracy over time.All raw data remains the intellectual property of each local MLS organization.

© copyright 2011 RE/MAX, LLC

January 29, 2012

Inman Names Dave Liniger ‘Most Influential Leader’

Filed under ( General News, Real Estate ) — admin @ 5:45 pm
 

“Change is going to overwhelm those who don’t embrace it,” Dave Liniger said to a crowd of more than 1,400 industry professionals attending Real Estate Connect in New York City on Thursday, just after he was named the Inman News ”People’s Choice” Most Influential Real Estate Leader.

Watch the presentation.

The “People’s Choice” honor is given to the real estate leader who has made the most significant contributions to the industry during the past year, based on the popular vote in an online poll.

In addition to expressing his sincere thanks to Inman readers, Liniger also briefly reflected on the past 39 years that RE/MAX has operated. In particular, he called attention to changing technology as a symbol of the increasing pace of business – and the importance of keeping up.

“Very simply, two or three years ago, most of us had never even heard of an app or an iPhone, let alone an iPad,” Liniger said. “Right now, 600,000 apps have been created for those devices in less than two years. That shows you the speed of change that’s happening.”

He added that agents can’t stick their heads in the sand if they want to remain successful.

The RE/MAX organization is coming off one of the most dynamic years in its history. Among the highlights: earning two J.D. Power and Associates awards, launching the global.remax.com website, growing its worldwide presence, boosting its commercial standing, helping thousands of distressed sellers, and upgrading its programs in training, technology, social media and brand marketing.

Liniger credits the network’s top-producing agents for its ongoing success.

“The key to RE/MAX has been the quality of its Sales Associates,” he told Affiliates in a New Year’s video message. “Individually, you are the best at what you do. Collectively, we’re a force that can’t be stopped.”


PEOPLE’S CHOICE: The newly named Most
Influential Real Estate Leader delivers his acceptance
speech at Inman’s Connect in NYC on Jan. 12.
Watch it now

 

 

   
 
RE/MAX Affiliates may share this article, provided they do not charge for it and this notice is included. All other rights reserved.

January 12, 2012

Housing Market Rebound

Filed under ( General News ) — admin @ 4:08 pm

Housing Market Rebound Seen in 2012

RE/MAX Agents See a Recovering Housing Market in the New Year

Denver, CO – The U.S. housing market will continue a slow recovery in 2012,
led by stabilizing home prices and increasing sales. Those are among the key
findings of a year-end survey of one thousand RE/MAX real estate agents who
say housing’s vital signs are gaining strength. The quarterly RE/MAX Market
Insights survey provides analysis of the national housing market from the
perspective of active RE/MAX agents around the country.

Improving numbers
The majority of RE/MAX agents surveyed say housing prices will stay the
same, or increase in 2012. Projections are the strongest for the Southern U.S.
where 49.6% say prices will stabilize and 26.7% anticipate an increase. Agents
in the Northeast see the biggest challenges, with 47.5% concluding that prices
will decrease, 44.6% expecting prices to remain at 2011 levels, and only 7.9%
anticipating an increase.

Nationwide, RE/MAX agents reported a 10.7% increase in their home sales in
2011, and project an increase of 29.3% in 2012. Asked to measure the strength
of home sales, 62.1% of agents predict good to very good sales in 2012. Survey
results are also available in an online infographic.

“A sense that home prices and sales are improving indicates that the housing
market is positioned for a gradual recovery in 2012,” said RE/MAX Chief
Executive Officer Margaret Kelly. “These agents have the best perspective on
industry trends since they average more home sales than agents with any other
national firm.”

Obstacles remain
The major obstacles to the housing recovery cited by agents include sagging
consumer confidence, followed by lack of economic growth, unemployment,
concerns of more price declines and bank procedures.

Agents report that 52% of closings were significantly delayed in 2011, with
bank procedures cited as the cause in 23% of the cases, followed by financing
and appraisals. For sales that were canceled, bank procedures again was the
leading reason, while financing, sales price and appraisals also were factors.

The majority of agents say such delays and cancellations were higher in 2011,
than in 2010.

Buyers and sellers more realistic
Asked to grade buyers and sellers on how realistic they are about home prices,
RE/MAX agents gave both groups a B-. That compares with a C+ for buyers
and a C- for sellers at the start of 2011.

Common misconceptions reported by RE/MAX agents are sellers thinking their
home is still worth as much as it was four or five years ago before the housing
slump, and buyers believing that extremely low offers will eventually be
accepted.

“It’s certainly a positive trend that buyer and seller perceptions are changing to
adjust to current conditions,” Kelly said. “Those who are misinformed and try
to time the market, rather than address immediate housing needs, can lose
valuable opportunities.”

Other findings of the RE/MAX Market Insights survey, conducted Dec. 7-19
among randomly selected agents, include:

• Market bottoming out: Thirty-nine percent said their markets have already hit
bottom; 34% say prices will stop dropping in 2012; 27% says prices will reach
their lowest point in 2013 or beyond.

• What government can do to help housing market recover: 1) Streamline short-
sale process; 2) Focus on job creation; 3) Increase refinancing help for
underwater home owners; 4) Standardize lending practices; 5) Release
foreclosed properties more aggressively.

• Five most common buyer incentives that agents are seeing: 1) Reduce sales
price; 2) Pay closing costs; 3) Make repairs; 4) Buy home warranty; 5) Pay
origination fees or points.

• Distressed sales: RE/MAX agents project that 20.3% of their home sales in
2012 will consist of foreclosures and short sales. That compares with 17.1% in
2011 and 15% in 2010.

RE/MAX agents have sold more real estate in the U.S. than any other company
since 1998. They averaged 13.1 sales per agent in 2010. To find an agent or
view homes for sale, go to www.remax.com.

Online survey of 1,004 U.S. RE/MAX agents specializing in residential real estate,
conducted in December 2011. ©2012 RE/MAX, LLC. Each office independently
owned and operated.

REMAX National Housing Report

Filed under ( General News ) — admin @ 4:07 pm

DECEMBER 2011 - Volume 40

November Home Sales Higher than
Last Year: Prices Continue Stabilizing

November home sales were 8.1% higher than sales in November 2010,
according to The RE/MAX Monthly Housing Report, a survey of housing
data from 53 metropolitan areas. November is the 5th consecutive month
to show a year-over-year sales increase. At the same time, the number of
homes for sale, or inventory, continued to fall for the 17th straight month.
November home prices were 1.4% higher than October, making the 5th
month in 2011 that prices have risen month-to-month. However, home
prices remained 4.2% lower than prices in November last year.

              YEAR-OVER-YEAR

TRANSACTIONS          SALES PRICE

UP  8.1%                      DOWN 4.2%

In November, Closed Transactions were
5.7% lower than October transactions,
which reflects the normal seasonal trend.
However, November transactions were
8.1% higher than those seen in November
one year ago. For the last five months,
transactions have been higher than what
was reported in 2010 for the same period.
Of the 53 metro areas included in the
survey, 41 saw increased sales over
November 2010, including: New Orleans,
LA +31.0%, Nashville, TN +30.1%,
Wilmington, DE +28.0%, Omaha, NE
+ 25.9%, and Seattle, WA +23.4%.

 

MEDIAN SALES PRICE

NOV 2011  - $181,322

NOV 2010  -  $189,353

 

MEDIAN SALES PRICE

The Median Sales Price of homes sold in
November was $181,322, which is 1.4%
higher than the price in October. During
2011 prices have risen in five months and
declined in six, not demonstrating a clear
trend in either direction. Home Prices for
November were 4.2% lower than what was
seen in November 2010. In this month’s
survey of 53 metro areas, 33 showed price
increases from October, while 9 reported
increases over November last year,
including: Orlando, FL +8.5%, Miami, FL
+6.1%, Detroit, MI +5.9%, Houston, TX
+2.6%, and Denver, CO +2.3% .

DAYS ON MARKET – AVERAGE OF 53 METRO AREAS

The average Days on Market for homes sold in
November was 97, just 2 days higher than the
average of 95 reported in October, and 4 days
higher than the average seen in November 2010.
Only two months in 2011 saw a Days on Market
below 90. July and September both reported 88,
which represents the lowest average seen in the
last 12 months. Days on Market is the number of
days between first being listed in an MLS and
when a sales contract is signed.

MONTHS SUPPLY OF INVENTORY – AVERAGE OF 53 METRO AREAS

For the 17th straight month, the November
inventory of homes-for-sale fell. The average
inventory of homes-for-sale in the 53 metro
areas surveyed dropped 8.3% from October and
23.7% from November last year. Given the
current rate of sales, and the active inventory,
the resulting Months Supply is 7.8, just slightly
higher than the 7.7 reported last month, but
significantly lower than the 10 month supply
seen in November 2010. Months Supply is the
number of months it would take to clear a
market’s active inventory at the current rate of
sales. A six-month supply is considered a
balanced market between buyers and sellers.

CONTACT
For specific data on the 53 metropolitan areas in this report or to request an interview, please call (303) 796-3667.

ABOUT THE RE/MAX NETWORK
RE/MAX was founded in 1973 by Dave and Gail Liniger, real estate industry visionaries who still lead the Denver-based global
franchisor today. RE/MAX is recognized as a leading real estate franchisor with the most productive sales force in the industry
and a global reach of more than 80 countries. With a passion for the communities in which its agents live and work, RE/MAX is
proud to have raised more than $100 million for Children’s Miracle Network Hospitals, Susan G. Komen for the Cure® and
other charities. Nobody in the world sells more real estate than RE/MAX. Please visit www.remax.com or
www.joinremax.com.

DESCRIPTION
The RE/MAX National Housing Report is distributed each month on or about the 15th. The first Report was distributed in August 2008. The Report is based on
MLS data in approximately 53 metropolitan areas, includes all residential property types, and is not annualized. For maximum representation, many of the
largest metro areas in the country are represented, and an attempt is made to include at least one metro from each state. Metro area definitions include the
specific counties established by the U.S. Government’s Office of Management and Budget, with some exceptions.

DEFINITIONS
Transactions are the total number of closed residential transactions during the given month. Month’s Supply of Inventory is the total number of residential
properties listed for sale at the end of the month (active inventory) divided by the number of sales contracts signed (pended) during the month. Where
“pended” data is unavailable, this calculation is made using closed transactions. Days on Market is the number of days that pass from the time a property is
listed until the property goes under contract for all residential properties sold during the month. Median Sales Price is the median price of all residential
properties sold during the month.

MLS data is provided by contracted data aggregators, RE/MAX brokerages and regional offices. While MLS data is believed to be accurate, it cannot be
guaranteed. MLS data is constantly being updated, making any analysis a snapshot at a particular time. Every month the RE/MAX National Housing Report
re-calculates the previous period’s data to ensure accuracy over time. All raw data remains the intellectual property of each local MLS organization.
© copyright 2011 RE/MAX, LLC.

Top 10 Real Estate Predictions

Filed under ( General News ) — admin @ 4:05 pm

Top 10 Predictions for Residential Real Estate

RE/MAX Co-Founder Sees Good News for Homebuyers and Sellers

Denver, CO – As the country shakes off the effects of the worst economic
recession in recent history, the residential real estate market is beginning to
rebound, and Dave Liniger, Chairman and Co-Founder of the leading real estate
franchise RE/MAX, sees several positive factors that could take hold in 2012.

“Interest rates will remain at or near historic lows and home prices will
stabilize and start to rise by the end of the year,” said Liniger “There’s no
question, the housing recovery will be slow and steady, but for many cities the
turn-around is already happening.”

With interest rates lower than most people have ever seen, and prices lower than
they’ve been in years, the current marketplace has created a unique environment
that may not be repeated for decades.

“Informed and savvy consumers and investors recognize there’s great
opportunity in this market and they are leading the way to recovery,” Liniger
added.

Dave Liniger’s Top 10 Real Estate Predictions for 2012 are:
1. Continued low interest rates
2. Home prices stabilizing and starting to rise
3. Increasing numbers of home sales
4. Rising inventories, mostly due to increased foreclosures
5. Distressed properties will make up about half of all sales
6. An improved Short Sale process to help avoid foreclosure
7. Homeownership rates continue to fall
8. Foreign and domestic investors will buy 25% of homes
9. Increasing reliance on real estate agents
10. Increased use of Mobile and Social technologies

Watch Dave Liniger’s 2012 Forecast Video to see more detail on his predictions
and to hear him speak about several factors that could help speed-up a housing
recovery.

Dave Liniger co-founded the RE/MAX organization in 1973 and has been
working in real estate for over 40 years. Recently, he has dedicated his efforts
to promoting solutions to the housing crisis and working to place the housing
industry on the road to a sustainable recovery.

Specifically, Liniger is a strong advocate of foreclosure alternatives like Short
Sales and he has been advising Washington policymakers and national lenders
regarding a streamlined Short Sale process that would help American families
avoid the traumatic foreclosure process, and other critical housing issues.

For information please visit www.remax.com or www.joinremax.com.

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About the RE/MAX Network:
RE/MAX was founded in 1973 by Dave and Gail Liniger, real estate industry visionaries who still lead the Denver-based global franchisor today. RE/MAX is recognized as one of the leading real estate franchise companies with the most productive sales force in the industry and a global reach of more than 80 countries. With a passion for the communities in which its agents live and work, RE/MAX is proud to have raised more than $100 million for Children’s Miracle Network Hospitals, Susan G. Komen for the Cure® and other charities. Nobody in the world sells more real estate than RE/MAX.  For more information about RE/MAX, please visit www.remax.com or www.joinremax.com