Other key facts from January 2014 resale housing report include:
• Housing inventory improved in January as home sellers geared up to sell their homes for the spring home-buying season. The available supply of existing, single-family detached homes for sale rose in January to 4.3 months, up from December’s Unsold Inventory Index of 3 months. The index was 3.5 months in January 2013. The index indicates the number of months needed to sell the supply of homes on the market at the current sales rate. A six- to seven-month supply is considered typical in a normal market.
• The median number of days it took to sell a single-family home also increased to 44.3 days in January, up from 40.2 days in December and from a revised 36.7 days in January 2013.
• Mortgage rates dipped in January, with the 30-year, fixed-mortgage interest rate averaging 4.43 percent, down from 4.46 percent in December but up from 3.41 percent in January 2013, according to Freddie Mac. Adjustable-mortgage interest rates in January averaged 2.55 percent, down from 2.56 in December and down from 2.58 percent in January 2013.
January 2014 Median Sold Price of Existing Single-Family Homes Sales
Jan-14 Dec-13 Jan-13
Placer County: $360,980 $361,150 $292,710
Change: MTM% YTY% MTM% YTY%
0.0% 23.3% -25.7% -15.2%
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