Carpe Diem

January housing reports are coming in strong

Reports on existing-home sales in January are being released for metro areas (and states) around the country, here’s a sample:

1. Minneapolis-St. Paul: Home sales increased 11% in January, median home price by 14.3%.

2. Milwaukee: Home sales increased by 15% in January.

3. Tampa Bay: Home sales in the Tampa Bay area rose 18% in January, and home prices increased by 11%.

4. Spokane County: Home sales jumped 20% compared to a year ago, marking the busiest January since 2007.

5. Massachusetts: Pending sales increased by 18.4% in January for single-family homes and by 22.3% for condos.

6. Detroit metro area: Homes sales increased 10.7% and median prices jumped 26.7%.

From a previous CD post: January real estate sales were hot in Dallas (highest for month of January since 2007, Sales +24% and Prices +10%), Las Vegas (prices up 27%), Charlotte (sales +40.4%), Chicago (sales +35.5%), Memphis (sales +46%), and San Diego (sales +15%, prices +12%).

MP: Double-digit gains are now increasingly common for both monthly home sales and home prices compared to a year earlier, as the evidence accumulates that a healthy housing recovery is underway in most parts of the country.

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