Tag Archives: RE/MAX

Following a release from Redfin indicating mixed strength in April’s housing segment, RE/MAX has issued its own monthly report, echoing the theme of a cooling market compared to the last few years. "While sales and prices aren't growing at the rate they did last year, we still remain in a recovery with the market settling into a more sustainable growth pattern," said CEO Margaret Kelly.

Following weak home sales during the first two months of the year resulting from extreme winter weather, March sales picked up 24.6 percent across the 52 metros measured in the RE/MAX National Housing Report. With sales rebounding just in time for spring homebuying season, the market continues to demonstrate its persistent trends of rising prices and low inventory.

While usually slow, February home sales were especially soft this year, thanks to the combined factors of harsh weather, higher prices, and slim inventory. According to RE/MAX's latest National Housing Report, home sales dropped by 8.8 percent year-over-year last month, outdoing January's loss of 7.1 percent. Of the 52 metros surveyed for the report, 42 posted declines.

According to an analysis by RE/MAX, bitter weather and a small inventory of homes for sale were the primary factors causing reduced sales activity in the Chicago area in February. The report commented, "Mortgage interest rates, which remain comfortably under 5 percent for 30-year fixed-rate loans, continue providing stimulus to the housing market."

While home sales were down nearly 27 percent over the month, they were down 7.1 percent from January last year, according to the RE/MAX report, which includes data from 52 metros across the nation. “We usually expect to see fewer home sales in the winter months, but January experienced particularly severe storms in large parts of the country, which disrupted appraisals, inspections and closings,” said Margaret Kelly, CEO of RE/MAX.

Last year's housing market was defined by two distinguishing factors: low inventory and rising prices; but both trends began to ease at the end of the year.

RE/MAX is the latest company to report an expected seasonal slowdown for housing in October. The real estate network reported a month-over-month decline in sales figures and prices as the market began to chill. "What we're seeing now are predictable seasonal cycles, which is just another sign that the housing recovery is bringing us back to a more normal market," said RE/MAX CEO Margaret Kelly. Inventory remains diminished, though the company noted that losses have slowed in the past several months.

According to RE/MAX's National Housing Report for September, closed transactions fell 18.5 percent month-over-month, following the trend that usually occurs as summer passes into autumn. Year-over-year, sales increased 10.7 percent, making September the 27th consecutive month in which sales rose on an annual basis. The company also reported a slowdown in the rate of inventory decline. Compared to September 2012, inventories were down 13.4 percent, bringing the month supply to 5.0 at the current sales pace.

Home sales and prices both improved year-over-year for the 19th straight month in August, according to multiple listing service (MLS) data from RE/MAX.

While inventory was down in July compared to last year and the prior month, the decreases were more conservative, which means home price gains should slow, according to RE/MAX's most recent housing survey. July inventory was 1.3 percent below the level in June and 20.7 percent lower compared to a year ago. However, inventory expanded month-over-month in 18 of the metros tracked. News for home sales was also positive, with closed transactions climbing 17 percent year-over-year and inching up 1.5 percent month-over-month.