Severe Storms Impact Home Sales - Prices Rise

As a result of unusually strong Winter storms, January Home Sales fell lower, while prices continued a trend of Double Digit Increases.

The RE/MAX National Housing Report, a survey of MLS data in 52 metropolitan areas, found the January Median Home Price was 11.6% higher than the price in January of 2013, mainley driven by a Limited Inventory. With the rate of Sales in January, the Months Supply of Inventory fell to 5.3 months.

As per Margaret Kelly, RE/MAX CEO the real story for Home Sales in 2014 will begin to unfold in coming Spring and Summer months....Stay Tuned!!