RE/MAX National Housing Report February 2011
Posted by Susan Gunnin on Friday, March 18th, 2011 at 9:06am.U.S. home sale up 3.3% in February.
While February home sales were 3.3% higher than January, they were 3% lower than February 2010 in the 54 U.S. markets surveyed in the RE/MAX National Housing Report.
This is the first time in four months that the year-to-year sales difference was not beter than the previous month. However, the monthly rise does provide for some optimism, since five of the previous seven months saw sales lower than the previous month.
Home prices were relatively unchanged from January, but experienced a 5.9% drop from last year. Housing inventories continue to fall, 2.2% from January and 8.9% lower than February 2010 levels.
"It's a very good sign that home sales increased over January, which could mean that sales will increase even more as we move into springtime, the prime home buying season," said RE/MAX CEO Margaret Kelly. "if this trend for home sales continues, we could also see home prices start to move up, as well."
This is the first time in four months that the year-to-year sales difference was not beter than the previous month. However, the monthly rise does provide for some optimism, since five of the previous seven months saw sales lower than the previous month.
Home prices were relatively unchanged from January, but experienced a 5.9% drop from last year. Housing inventories continue to fall, 2.2% from January and 8.9% lower than February 2010 levels.
"It's a very good sign that home sales increased over January, which could mean that sales will increase even more as we move into springtime, the prime home buying season," said RE/MAX CEO Margaret Kelly. "if this trend for home sales continues, we could also see home prices start to move up, as well."
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