Housing data released by MIBOR today reveals an aggressive start to the year in all areas of measurement. Closed sales rose 12.8 percent in January while increasing 8.4 percent for the three months ending in January.  Sales prices increased somewhat – median sales price increased 1.2 percent in January and 3.0 percent for the three months ending in January. Average sales price rose by 2.0 percent in the monthly and quarterly analysis. The most exciting news comes in the form of new listings and pending activity. 

New listings jumped 23.9 percent January after their encouraging 13.1 percent increase in December. Pending sales rose 17.0 percent in January and 13.7 percent for the quarter ending in January. Months supply of inventory was stagnant at the familiar 4.5 months of available homes for sale. 

 

source: MIBOR Fast Track Market Spotlight