As strong winter storms hit, January saw a decline in home sales although home prices continue to rise. The RE/MAX National Housing Report noted the median home price for January 2014 was $173,475; 11.6% higher compared to January 2013.
Due to the storms, numerous delays, and cancellations in closing, home sales were down by 7.1%. However, home prices are on the rise and the market is preparing for strong spring and summer months.
Great information about the housing market!
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