Vladimír Urbánek (Kurzy.cz)
Macroeconomics  |  February 21, 2013 16:56:11

U.S. - Sales of existing homes in January, slightly above market expectations, vacant houses since at least 1999

Sales of existing homes in the U.S. in January, according to statistics, the local National Association of Realtors rose by 0.4% to 4.92 million units in annual terms, which slightly exceeded the average market estimates adjusted to 4.9 units. Overall range estimates ranged from 4.7 to 5.1 million. For December, sales were revised downwards from 4.94 to 4.9 million units in annual terms.
In 2012, it sold a total of 4.66 million existing homes, which was the highest since 2007.

Sales of single-family existing homes rose in January by 0.2% to 4.34 million units. Sales of multigenerational houses, including rental housing rose by 1.8% to 580,000 units.

Number of vacant homes on the market in January fell by 4.9% to 1.74 million, the lowest since December 1999. The average selling time decreased from 4.5 to 4.2 months, the lowest since April 2005.According to statistics, NAR sales inventory level six months heralds price stability.
According to earlier comments record small supply of homes on the market causes only little willingness to sell the property compared to the strong growth in demand shopping. This condition is related to the fact that the real estate market in the U.S. over the past year has found its bottom and now records the signs of recovery. The seller therefore waiting for the prices of their properties and sell in many cases, do not rush. Buyer investors have trying to use is still low prices with the prospect of a possible profit.

The average price of existing homes in January in an average year rose by 12.3% to 173 600 USD.

The ratio of sales made in cash decreased to 28% compared to December's 29%. The share of forced sales of bank collateral dropped by from 35 to 23% of all transactions.Number of serious infringements repayment terms in January fell by 28%, which was the lowest since April 2007.

The average interest on 30-year mortgages fell last week to the end of the year from 3.95 to 3.56%.

Older homes market posted its low in 2008, when the owner changed the overall 4.11 million estate. Maxima market reached in 2005, when it sold about 7.08 million homes.
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