Wednesday, February 26, 2014

February 2014 US Housing Trends

Angela Yglesias

Levesque Realty 

Cell: 805-490-4944   
Phone: 805-490-4944 

Housing Trends

Feb2014


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National market update

Existing-Home Sales Drop in January While Prices Continue to Grow

WASHINGTON (February 21, 2014) – Existing-home sales fell in January to the lowest level in a year-and-a-half, but ongoing inventory shortages continue to lift prices in much of the U.S., according to the National Association of Realtors®. Read more

December Pending Home Sales Fall

WASHINGTON (January 30, 2014) – Pending home sales measurably dropped in December, with abnormal weather partly inhibiting home shopping in much of the U.S., according to the National Association of Realtors®. Declines were experienced in all four major regions.
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National housing indicators

Existing home sales (January)

4.62*

Existing home median price (January)

$188,900

Housing Starts (January)

880,000*

New home sales (January)

414000*
*Seasonally adjusted annual rate. Source: NATIONAL ASSOCIATION OF REALTORS®.

National economic indicators

Home ownership

4th Qtr 2012

65.4%

4rd Qtr 2013

65.2%
The homeownership rate in the fourth quarter 2013 was 65.2 percent, down 0.2 (+/- 0.4)* percentage points from the fourth quarter 2012 rate of 65.4 percent. The homeownership rate in the Northeast was lower than its corresponding fourth quarter 2012 rate, while the rates in the Midwest, South, and West were not statistically different from the rates a year ago.

New home sales

November 2013

-3.9%

December 2013

-7.0%
Sales of new single-family houses in December 2013 were at a seasonally adjusted annual rate of 414,000. This is 7.0 percent (+/- 17.5%)* below the revised November 2013 estimate of 445,000.
Source: U.S. CENSUS BUREAU

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Regional market updates

View market statistics for your region.

Click on the links below to view data from two different industry sources. Choose information on local prices & state sales from any of 150 metropolitan housing markets prepared by the National Association of REALTORS® or information on sales & price activity from local area markets in 25 states prepared by Clarus MarketMetrics.

Representing residential and commercial buyers and sellers in Ventura and LA Counties.
Buying is now cheaper than renting in 74 percent of the nation’s largest cities. Low home prices and “rock-bottom” interest rates as well as tax advantages of homeownership are the reasons why it’s now cheaper to BUY a 2-bdrm home than to rent one. Check out this CNN Money article with the details. Read more
Home Ownership matters…to people, to communities, and to America. Why? • For every two homes sold, one job is created in the U.S. • Each purchase generates as much as $60,000 in economic activity over time. Read more
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Boost Your Credit Score to Buy a Home

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When you buy a home, the amount you can spend depends on how much you have in cash to use for a down payment and how much you can borrow. A mortgage lender can prequalify you for a loan,
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Experts Predict 2014 Housing Market

The U.S. real estate market made a robust comeback in 2013, surpassing expectations of many economists, as the combination of low inventories and historically low interest rates caused home prices to rise and even helped fuel bidding wars in some markets, surpassing the expectations of many economists. While positive trends, such as increasing home values, are expected to continue into 2014, mortgage rates are also expected to rise in the coming year and could put a damper on home buyers? abilities to afford new homes.Read more
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2014 Remodeling Trends

Home remodeling may have taken a backseat during the recession, but not anymore. According to a 2013 Hanley Wood survey, remodeling sales were up 10 percent compared to 2012, and 45 percent of remodelers surveyed expected another 10 percent growth in 2014.Read more

Existing home statistics: June 2013

View statistics based on national data, regional data and data gathered from 159 cities & metropolitan areas.

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