anuary Home Prices Increase
The 2015 housing market is off to a very strong start, according to Redfin. In January, the median home sale price fell 1.2 percent from December, one-third of the price decline seen a year ago, and the smallest January home-price decline in at least the past seven years. January's median home price is actually up 7.6 percent year over year. Redfin’s data is based on data from home sales recorded in the first three weeks of January.
Highlights from the report:
- In December, the number of homes for sale increased 4.8 percent year over year.
- December saw a 9.5 percent increase in new listings, more than any other December since 2008.
- In the week of January 12, 57 percent of Redfin home tours were taken by first-timers, compared with 31 percent the week before, 44 percent a month earlier and 48 percent the same week last year.