January RE/MAX Housing Report: Slow Start for Home Sales in 2015
Sputtering Home Sales. 2014 Deja Vu?
Like last year, the pace of home sales are sputtering to start the new year. January home sales were 3.9% lower than sales in January 2014. However, last year, sales improved dramatically during the spring and summer months and three of the last four months of 2014 recorded higher sales than one year earlier. With a constrained inventory, the January Median Price rose by 11.2% over last January. And the inventory of homes for sale was 10.9% lower than one year ago. At the current rate of sales, the corresponding Months Supply of inventory fell slightly to 5.2 on a scale where 6.0 indicates a market balanced equally between buyers and sellers.