2014 Ends on a High Note: Much has been discussed regarding the success, or lack there of, in the real estate market in 2014. MIBOR suggests though the year ended at a slight decrease in existing home sales, the month of December was a bright point with a 13% increase in closed sales. Many believe that this is a good indicator of what’s to come in 2015 – an increase in both transactions and average sales price.
December is Good Everywhere: The National Association of Realtors also reports an increase in total existing home sales and median sales price in December throughout the nation. Chief NAR Economist Lawrence Yun calls the second half of 2014 “measurably better.”
New Construction is Strong: We can’t get enough of these stats about new home construction! MIBOR sums up the story on the local home builders’ success.