Our Changing Market

hpi_pricechartOther 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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