Greg Hanner

Garden Realty

76 Gallup Lane
Waterford, CT 06385


Cell: 860-608-8659   

Housing Trends

January 2015

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National market update

Existing-Home Sales Rebound in December, 2014 Total Sales Finish 3 Percent Below 2013

WASHINGTON (January 23, 2015) – Despite low inventory conditions, existing-home sales bounced back in December and climbed above an annual pace of 5 million sales for the sixth time in seven months, according to the National Association of Realtors®. Median home prices for 2014 rose to their highest level since 2007, but total sales fell 3.1 percent from 2013.

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Ready for a Jolt to the Housing Market?

The strengthening of the economy will drive the housing market forward this year and make up for last year’s "unspectacular” housing activity, according to Fannie Mae’s Economic & Strategic Research Group’s report, released Thursday. Stronger wages for many Americans likely will lead to a higher rate of household formation in 2015, Fannie researchers note.

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National housing indicators

Existing home sales (January)

5.04 millions units*

Existing home median price (January)

$209,500

Housing Starts (January)

1.089 millions units*

New home sales (January)

4.38 millions units*

*Seasonally adjusted annual rate. Source: NATIONAL ASSOCIATION OF REALTORS®.

National economic indicators

Home ownership

3rd Qtr 2014

+64.4%

3rd Qtr 2013

+65.3%

The homeownership rate in the third quarter 2014 was 64.4 percent, down 0.9 (+/- 0.4) percentage points from the third quarter 2013 rate of 65.3 percent. The homeownership rates in the Northeast, Midwest and South were lower than the rates in the third quarter 2013, while the rate in the West was not statistically different from the rate a year ago.

New home sales

November 2014

-1.6%

October 2014

-2.2%

Sales of new single-family houses in November 2014 were at a seasonally adjusted annual rate of 438,000. This is 1.6 percent (+/- 12.3%)* below the revised October 2014 estimate of 445,000.

Source: U.S. CENSUS BUREAU

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Regional market updates

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Click on the links below to view data from two different industry sources. Choose information on local prices & state sales from any of 150 metropolitan housing markets prepared by the National Association of REALTORS® or information on sales & price activity from local area markets in 25 states prepared by Clarus MarketMetrics.

Home Ownership matters…to people, to communities, and to America. Why? • For every two homes sold, one job is created in the U.S. • Each purchase generates as much as $60,000 in economic activity over time. Read more

Buying is now cheaper than renting in 74 percent of the nation’s largest cities. Low home prices and “rock-bottom” interest rates as well as tax advantages of homeownership are the reasons why it’s now cheaper to BUY a 2-bdrm home than to rent one. Check out this CNN Money article with the details. Read more

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Consumer tips & hot properties

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Getting a Grip on Homeowner Maintenance Costs

Keep these costs in mind as you tour prospective homes so you don’t fall madly in love with a property that needs expensive TLC.

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Can Your Social Media Presence Affect Your Loan Approval?

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When Pending Sales Go Bad: How to Save the Transaction

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6 Rules to Follow When Pricing Your Home

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The $25,000+ Mortgage Mistake Nearly Half of Borrowers Make

You may be throwing tens of thousands of dollars of your hard-earned money at the bank, when you might not need to.

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Existing Home Statistics

View statistics based on national data, regional data and data gathered from 159 cities & metropolitan areas.