Number of U.S. Home Sale Listings Increases in January
Just a blip?
After a year and a half of slowly declining numbers of homes listed for sale in America, January’s numbers reported by ZipRealty show an increase in listings by 2.9% or 15,000 total homes.
The rise in the number of listings in the 27 major US metropolitan markets totals 567,265 homes for sale, and with 18.9 million homes vacant, which isn’t quite the hair that will break the camel’s back but doesn’t look like an upswing in the immediate future can be forecasted.
Stabilization in the housing market will come when many of the moving pieces fall into place but it might be some time before that happens. Year over year, most markets had rises in inventory numbers, but perhaps FHA’s announcement this week that they would relax anti-flipping rules, the U.S. Treasury has vowed to improve the Home Affordable Modification Program and the end of 2009 ending with December seeing an increase in number of home sale contracts that were signed, there is hope yet for recovery.
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This article published on Friday, February 5th, 2010 at 12:08 am | Contact the editor
Topics: News
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AGBeat Editor-in-Chief: Lani, named one of Real Estate’s 100 Most Influential, as well as 12 Most Influential Women in Real Estate, is a business writer hailing from the great state of Texas in the city of Austin. As a digital native, Lani is immersed not only in advanced technologies and new media, but is also a stats nerd often burried in piles of reports. Lani is a proven leader, thoughtful speaker, and vested partner at AGBeat.
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- Memphis Real Estate:
Number of U.S. Home Sale Listings Increases in January: http://bit.ly/aAWdI2
- Cottrell Realty:
Number of U.S. Home Sale Listings Increases in Jan [inventory ahead of demand each spring - seasonal] http://ow.ly/14ag3
- Mike Cox:
RT @kevincottrell: Number of U.S. Home Sale Listings Increases in Jan [inventory ahead of demand each spring - seasonal] http://ow.ly/14ag3
- FamilyHOMES4You:
Number of U.S. Home Sale Listings Increases in January: The rise in the number of listings in the 27 major US metr… http://bit.ly/dts7cn
- topsy_top20k_en:
agentgenius.com NEW Number of U.S. Home Sale Listings Increases in January http://bit.ly/bjOjpK
- AgentGenius:
#agnow Inventory always increases in the Spring in our market as sellers get their hopes up that that the market wi… http://bit.ly/a4yTG5
- Austin Mortgage:
Number of U.S. Home Sale Listings Increases in January http://bit.ly/b0K0XD (via @LaniAR, Agent Genius News)
- AgentGenius:
#agnow As the spring is in the air, seasons of home buying and selling will rise and the monthly home sale inventor… http://bit.ly/a4yTG5
- Weekly summary of real estate news, Memphis comments, and other interesting stuff – February 11th - Memphis Real Estate Buzz:
[...] Shared Number of U.S. Home Sale Listings Increases in January. [...]
- AgentGenius:
#agnow [...] Shared Number of U.S. Home Sale Listings Increases in January. [...] http://bit.ly/a4yTG5
- Bridget Magnus » Friday Figures for 1/5/2010:
[...] The fact that our local number of listings is stable is even better when you consider that nationwide, the number of listings grew in January. Nationwide, we are also experiencing a decline in the percentage of families that own a home and a [...]
- AgentGenius:
#agnow [...] The fact that our local number of listings is stable is even better when you consider that nationwide,… http://bit.ly/a4yTG5
Benn Rosales
Conal Campbell
Elijah May
Lani Rosales
Tara Steele
Marti Trewe
Charlene Jimenez
The inventory will continue to increase as will the number of sales throughout the Spring. The effect of which will be the interest rates will rise on news that the housing marketing is improving! Then, after the tax credits go away and rates go up, those sellers who weren’t fortunate enough to sell during the Spring will get to share their misery with the Shadow Inventory that will start leaking into the market…Yikes, what a gloomy Gus I am!
Inventory always increases in the Spring in our market as sellers get their hopes up that that the market will be flush with buyers when the Spring market arrives. Rumor has it that there is an impending tsunami of foreclosures in 2010, however, so perhaps the increased inventory can also be accounted for to some degree by that. It stands to reason that with banks not increasing their lending, the tax credits expiring soon, and interest rates rising (due to the Feds stopping their program of buying mortgage-backed securities in early March), that should cause demand to taper off a bit. If inventories continue to increase due to dramatically increased numbers of foreclosures while demand decreases more than normal (due to a more strenuous lending atmosphere, high unemployment, and lack of affordability), we could be in for a very bumpy 2010 indeed.
As the spring is in the air, seasons of home buying and selling will rise and the monthly home sale inventory will continue to increase in the market. Plus, the ongoing extended and expanded tax credit will somehow help in the rocketing up in the number of home sale this year. This one great article widens our horizon towards developing real estate business. Keep it up!