Low inventory has characterized the housing recovery for several months, but may be finally showing signs of improvement. The number of homes for sale in April inched 1.6% higher than the number seen in March, the first monthly increase since June 2010. At the same time, Closed Transactions and Median Prices both remained 10% higher than last year’s levels. The April RE/MAX National Housing Report, a survey of MLS data from 52 U.S. metropolitan areas, contained signs of a strong housing recovery in regions across the country. Low inventories contribute to a limited growth in sales, preventing some buyers from closing on the home of their choice. But if inventories can rise to a more balanced level, the recovery should strengthen and experience even more home sales. The Months Supply of homes for sale at April’s pace of sales was just 3.6 months, the lowest supply since the RE/MAX National Housing Report began in August 2008. A balanced market is achieved with a Months Supply of 6.
The above is an excerpt from the monthly RE/MAX National Housing Report; read the full two-page report.
Without question, 2012 was the long hoped-for turnaround year for the housing market. The 
Ending the year on a positive note, December home sales did not follow the seasonal trend but rose an unexpected 5.7% from sales in November. Sales were also up 1.1% from December 2010, the 6th consecutive month to show a year-over-year sales increase. Largely due to a lower volume of foreclosures, the number of homes for sale fell for the 18th straight month, and is now 25.7% lower than last year. Home prices remained nearly even with November prices, down just 0.35% and were down 3.5% from December 2010.  Overall, 2011 was marked by home sales and prices that remained within a range, rising and falling in an equal number of months without showing a strong trend in either direction. 
The RE/MAX North Central Monthly Housing Reports for the Twin Cities and Milwaukee metro shows an uptick in some key factors, including Closed Sales and the Median Sales Price. The later is great news for sellers! Click the links below to read the full reports and discover other ways sellers are benefiting.
