Wednesday, February 23, 2011

New REALTOR data shows increase among modestly-prices homes

The National Association of REALTORS released its Janaury home sales data today. NAR does not provide data specific to the Denver, since Denver is not among the 19 local markets that NAR tracks.

NAR does provide some regional data for the west.

According to NAR:

Existing-home sales in the West rose 7.9 percent to an annual level of 1.37 million in January and are 7.0 percent above January 2010. The median price in the West was $193,200, down 5.7 percent from a year ago.

Nationally, home prices fared slightly better:

Single-family home sales rose 2.4 percent to a seasonally adjusted annual rate of 4.69 million in January from 4.58 million in December, and are 4.9 percent higher than the 4.47 million level in January 2010. The median existing single-family home price was $159,400 in January, down 2.7 percent from a year ago

Regionally, the most growth in sales activity was found among the homes with the lowest prices:

Locally, Luxury homes sales have been increasing, however, as reported here by John Rebchook.

Also, interestingly, this release comes a day after CoreLogic criticized NAR for inflating its sales numbers.