February 2014 Housing Data
March 24, 2014
March 24, 2014
February home sales slowed in February, while prices increased by double digits over last year. The RE/MAX National Housing Report, a survey of MLS data in 52 metropolitan areas, found the February results to be nearly identical to January. Just like January, the median home price rose 11.6% compared to the same month in 2013, and is now at $180,450.
Home sales dropped by 8.8%, compared to January’s year-to-year loss of 7.1%. Unusually harsh winter storms impacted appraisals, inspections and closings. Even though inventory losses have been shrinking, low inventories in many metro areas had a negative impact on sales.
Even at the rate of February sales, the corresponding Months Supply of inventory of 5.1 isn’t significantly below the 6.0 level of a market balanced between buyers and sellers. When measured on a year-to-year basis, February became the 11th consecutive month with fewer inventory losses than the previous month.
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Wendy Tancheff
(970) 389-3019
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Caren Mapes
(970) 485-2475
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224 S Main St
Breckenridge, CO 80424
(970) 668-5300
305 E Main St PO Box 610
Frisco, CO 80443