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The National Association of Realtors recently announced the latest US real estate figures and the numbers are encouraging for anyone considering selling their home.
Evidently, home price growth accelerated in much of the country during the fourth quarter of 2014.
This is a fantastic development for anyone hoping to get a good price on their home for sale. Continue reading to learn more.
What You Should Know About US Home Sales
Here is an overview of the highlights of the most recent real estate market report:
- The median price of an existing single-family home increased year-over-year in 86 percent of 175 metropolitan areas.
- 24 areas had price gains of 10 percent or more.
- That figure is up from 16 regions during the third quarter.
Park City Real Estate Market Update for January 2015
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Real Estate sales in the Park City area have been steady and stable in 2014 for single family homes, condominiums, and townhomes. The median sales price within the Park City limits was just under $1.2m.
With low inventory levels many of the segments of the market will continue to improve. Park City real estate median prices increased 5.5% from last year. The real story was the lack of inventory in December hitting a new low with only 1,019 active listings. The annual sales were down from 2013 which is most likely due to the low inventory levels.
BUYER PENT UP DEMAND
With buyers taking advantage of the low interest rates and lenders…
Regardless of whether you’re navigating the new home sales market or the new construction market, you’ve likely heard some great news over the last few weeks.
That’s because both sectors of the national housing market have made gains recently, according to media reports.
If you’re planning on entering the market anytime soon as a buyer or seller, we recommend you continue reading to learn more about the latest trends on the housing market.
A Closer Look at US Single-Family Housing Starts
According to a recent Reuters article, groundbreaking for U.S. single-family homes increased to its highest level in more than 6 years in December.
Experts say that this, coupled with a huge jump in permits, hints at a recovering housing market.