February 25, 2015 by Jeff Lowen
Existing-Home Sales Lose Momentum in November as Inventory Slightly Tightens
Existing-home sales declined in January to their lowest rate in nine months, but the pace was higher than a year ago for the fourth straight month, according to the National Association of Realtors®. All major regions experienced declines in January, with the Northeast and West seeing the largest.
Home-Price Growth Slightly Accelerates in Fourth Quarter of 2014
The majority of metropolitan areas experienced steady but slightly stronger price growth in the fourth quarter of 2014, behind a decline in housing supply and an uptick in demand fueled by lower interest rates and a stronger job market, according to the latest quarterly report by the National Association of Realtors®.
National Housing Indicators for February
Existing home sales – 4.82 millions units*
Existing home median price – $199,600
Housing Starts (February) 1.065 millions units*
New home sales – 4.81 millions units*
*Seasonally adjusted annual rate. Source: NATIONAL ASSOCIATION OF REALTORS®.
National Economic Indicators
4th Qtr 2014 +64.0%
4th Qtr 2013 +65.2%
The homeownership rate in the fourth quarter 2014 was 64.0 percent, down 1.2 (+/- 0.4) percentage points from the fourth quarter 2013 rate of 65.2 percent. The homeownership rates in the Northeast, Midwest and South were lower than the rates in the fourth quarter 2013, while the rate in the West was not statistically different from the rate a year ago.
New Home Sales
January 2015 -0.2%
December 2014 +8.1%
Sales of new single-family houses in January 2015 were at a seasonally adjusted annual rate of 481,000. This is 0.2 percent (+/- 22.2%)* below the revised December 2014 estimate of 482,000.
Source: U.S. CENSUS BUREAU