Missouri Association of REALTORS® Releases January 2012 Statewide Home Sales Report

According to the Missouri Association of REALTORS Monthly Home Sales Report, the number of January 2012 home sales exceeded those of a year ago by a whopping 18.5% — and were 14.7% higher than January 2010 sales.
By: Missouri Association of REALTORS
 
Feb. 29, 2012 - PRLog -- The Missouri housing market is on the move.  According to the Missouri Association of REALTORS’® Monthly Home Sales Report, the number of January 2012 home sales exceeded those of a year ago by a whopping 18.5% — and were 14.7% higher than January 2010 sales. Although approximately 1,000 fewer homes were sold statewide in January as compared to December, the decline wasn’t unexpected. January is generally a slower home purchase month and the drop mirrors a similar trend in Missouri in recent years. Unseasonably mild weather combined with historically low interest rates contributed to the year over year increase in Missouri home sales for the month.

January 2012 statistics revealed the following when compared to January 2011:


-   Year over year home sales for January jumped 18.5%, from 2,670 in 2011 to 3,165 in 2012

-   The average number of days those homes were on the market was 147, which was slightly longer than the same month in 2011

-   Prices of homes sold in January 2012 were nearly identical to those in 2011.  The average selling price was $132,634

-   And finally, the median selling price -- or the price where half the homes sold higher and half sold for less -- remained virtually unchanged at $100,000.



When comparing January 2012 statistics to those of December, 2011 the following conclusions can be made:


-   While home sales fell 24.5% from 4,190 in December to 3,165 in January, the drop wasn’t unexpected. January is traditionally a slower home purchase month.

-   There was a negligible increase month-over-month in the average number of days homes sat on the market, up just 1.4% from the previous month

-   Average home prices fell slightly—4.6% in January—from an average of $139,061 in December to $132,634

-   The median selling price saw a 9.1% drop from $110,00 in December to $100,000 in January 2012


Final conclusions:

Current home prices continue to be in favor of the buyer here in Missouri and mortgage interest rates remain at an all-time low. According to Freddie Mac, the national average for a 30-year conventional fixed rate mortgage fell to a record low of 4.11% back in September of 2011. Now in 2012, that record low has dropped even further, down to 3.92%. According to the National Association of REALTORS®’ housing affordability index, a median-income family can easily afford a median priced home; however, some lenders have stiffened their mortgage requirements. Realtors can help buyers learn about specific programs that may be available in their area.


The complete Missouri Association of REALTORS Home Sales Report is available to REALTOR Members in the Market Statistics tab of the Member Resources section at http://www.missourirealtor.org.  

Consumers can view video highlights of the Report on the home page at http://www.missourirealtor.org.

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Founded in 1936, the Missouri Association of REALTORS® is one of the largest trade associations in the state of Missouri with nearly 19,000 members. Through the collective strength, influence and professionalism of its members, MAR is dedicated to protecting the private property rights of Missouri citizens, promoting real estate as a catalyst for economic and community development, and fostering a business environment in which all members can succeed.
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Source:Missouri Association of REALTORS
Email:***@morealtor.com Email Verified
Zip:65201
Tags:Home, Sales, Missouri, January, 2012
Industry:Real Estate
Location:Columbia - Missouri - United States
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Page Updated Last on: Feb 29, 2012
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