Greg Hanner

Garden Realty

76 Gallup Lane
Waterford, CT 06385


Cell: 860-608-8659   

Housing Trends

April 2016

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National market update

Existing-Home Sales Spring Ahead in March

WASHINGTON (April 20, 2016) — Bolstered by big gains in the Northeast and Midwest, existing-home sales bounced back in March and remained slightly up from a year ago, according to the National Association of Realtors®.



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Realtors® Give Homebuyers Leg Up in Competitive Spring Market

WASHINGTON (April 13, 2016) – With demand exceeding supply in markets across the U.S., homebuyers may be facing an uphill battle to find the perfect home this spring. Total housing inventory at the end of February was 1.88 million existing homes available for sale, 1.1 percent lower than last year and at a 4.4 month supply at the current sales pace, which is below the roughly six month supply level needed for a balanced market between buyers and sellers.



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National housing indicators

Existing home sales (March)

5.33 millions units*

Existing home median price (March)

$222,700

Housing Starts (March)

1.089 millions units*

New home sales (February)

0.512 millions units*

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

National economic indicators

Home ownership

4th Qtr 2015

+63.8%

4th Qtr 2014

+64%

The homeownership rate in the fourth quarter 2015 was 63.8 percent, down 0.2 (+/- 0.4)* percentage points from the fourth quarter 2014 rate of 64.0 percent. The homeownership rates in the Northeast, Midwest, South and West were not statistically different from the rates in the fourth quarter 2014.

New home sales

February 2016

+2.0%

January 2016

-7.0%

Sales of new single-family houses in February 2016 were at a seasonally adjusted annual rate of 512,000. This is 2.0 percent (+/- 18.8%)* above the revised January 2016 estimate of 502,000.

Source: U.S. CENSUS BUREAU

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Regional market updates

View market statistics for your region.

Click on the links below to view data from two different industry sources. Choose information on local prices & state sales from any of 178 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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Which Presidential Candidate Will Save You the Most on Housing?

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Existing Home Statistics

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