Rob Drakeley

DRAKELEY REO's

PO BOX 1200
Southbury, CT 06488


Cell: 855-355-6767   
Phone: 855-355-6767 

Housing Trends

March 2015

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National market update

Existing-Home Sales Slightly Improve in February, Price Growth Gains Steam

WASHINGTON (March 23, 2015) – Existing-home sales increased modestly in February, but constrained inventory levels pushed price growth to its fastest pace in a year, according to the National Association of Realtors®.

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5 Spring Home Buying Strategies

The spring home-buying boom is underway, and this year buyers in some markets will face an increased amount of competition due to low housing inventory. In fact, the most recent existing-home sales report from the National Association of REALTORS® cautions that "Insufficient supply appears to be hampering prospective buyers in several areas of the country and is hiking prices."

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National housing indicators

Existing home sales ()

4.88 millions units*

Existing home median price ()

$202,600

Housing Starts ()

8.97 millions units*

New home sales ()

4.81 millions units*

*Seasonally adjusted annual rate. Source: NATIONAL ASSOCIATION OF REALTORS®.

National economic indicators

Home ownership

4th Qtr 2014

+64.0%

4th Qtr 2013

+65.2%

The homeownership rate in the fourth quarter 2014 was 64.0 percent, down 1.2 (+/- 0.4) percentage points from the fourth quarter 2013 rate of 65.2 percent. The homeownership rates in the Northeast, Midwest and South were lower than the rates in the fourth quarter 2013, while the rate in the West was not statistically different from the rate a year ago.

New home sales

February 2015

+7.8*%

January 2015

+4.4*%

Sales of new single-family houses in February 2015 were at a seasonally adjusted annual rate of 539,000. This is 7.8 percent (+/- 15.2%)* above the revised January 2015 estimate of 500,000.

Source: U.S. CENSUS BUREAU

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Regional market updates

View market statistics for your region.

Click on the links below to view data from two different industry sources. Choose information on local prices & state sales from any of 178 metropolitan housing markets prepared by the National Association of REALTORS® or information on sales & price activity from local area markets in 25 states prepared by Clarus MarketMetrics.

Drakeley REO's service the REO industry exclusively! We guide first time home buyers through the process of purchasing a bank owned home or REO. With 21 years in the Real Estate retail industry & recent years as a Mortgage Loan Consultant, we are here to help, and service the public when it comes to purchasing or selling a bank owned asset. Read more

Our New Exclusive REO Real Estate Company. Selling Bank Owned Homes throughout Connecticut Exclusively for the Banks and Asset Managers Read more

Rob's a resident of Southbury & member of Sacred Heart Church w/an active role @ Pomperaug Elementary as Class Dad & PTO. RE Broker since 1997 & loan originator since 2012, NMLS#336022. Certified Distressed Property Expert. Member of Woodbury & Southbury Business Associations. Council of Residential Specialists. University of Miami class of 1995. Read more

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Consumer tips & hot properties

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Where America’s Affordable Homes Are—and Aren’t—in 2015

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Is Spring the Best Time to Buy?

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In Priciest U.S. Cities, Mortgage Affordability Seems Bad—but It’ll Get

Realtor.com’s first Mortgage Affordability Report pulls data from the 25 largest housing markets in the U.S. for a picture of what Americans can afford in terms of buying or renting a home.

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Existing Home Statistics

View statistics based on national data, regional data and data gathered from 159 cities & metropolitan areas.