Re/max Hous­ing Report shows Jan­uary home sales, prices higher

North Penn Life - - Real Estate -

The sell­ing sea­son in 2012 started early and con­tin­ued through the whole year. Now, the new year is start­ing at lev­els even higher than last Jan­uary, ac­cord­ing to Re/ Max.

The Jan­uary Re/Max Na­tional Hous­ing Report shows the re­cov­ery con­tin­ues with sales up 9.1 per­cent and prices up 8 per­cent from Jan­uary last year.

Fall­ing in­ven­to­ries are both a pos­i­tive and neg­a­tive fac­tor for the re­cov­ery. They have pushed prices higher, which helps un­der­wa­ter homeowners, but have also cre­ated a short­age of homes for po­ten­tial buy­ers.

The in­ven­tory of homes for sale re­mains 28.9 per­cent be­low the lev­els seen in Jan­uary 2012. With fewer dis­tressed prop­er­ties and un­der­wa­ter homes, more home sellers in 2013 may be per­suaded to place their homes on the mar­ket and move up. As the in­ven­tory is­sue works its way back to a tra­di­tional bal­ance, the hous­ing mar­ket should con­tinue a ro­bust re­cov­ery in 2013.

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