MAY-2014 Newsletter by Lazaro Lopez, PA

National market update

April Existing-Home Sales Show Modest Improvement Behind Gaining Inventory

"WASHINGTON (May 22, 2014) – Existing-home sales increased for the first time this year in April, while inventory meaningfully increased and home price growth moderated, according to the National Association of Realtors®. Monthly sales gains in the West and South offset a modest decline in the Midwest while the Northeast was unchanged." Read more

Forecast for Housing and the Economy Suggests Gradual Improvement through 2015

WASHINGTON (May 15, 2014) – Housing activity was sub-par in the first quarter of this year, dampened in part by severe weather patterns, but an uptrend is expected with healthy underlying demand over the balance of the year and through 2015, according to presentations at a residential real estate forum here during the Realtor® Party Convention & Trade Expo." Read more

National housing indicators

Existing home sales (April)

4.65*

Existing home median price (April)

$201,700

Housing Starts (April)

1,072,000*

New home sales (April)

384000*

*Seasonally adjusted annual rate. Source: NATIONAL ASSOCIATION OF REALTORS®.

National economic indicators

Home ownership

1st Qtr 2013

+65.0%

1st Qtr 2014

+64.8%

The homeownership rate in the first quarter 2014 was 64.8 percent, down 0.2 (+/- 0.4)* percentage points from the first quarter 2013 rate of 65.0 percent. The homeownership rates in the Northeast, Midwest, South and West were not statistically different from the rates a year ago.

New home sales

March 2014

-6.9%

April 2014

+6.4%

Sales of new single-family houses in April 2014 were at a seasonally adjusted annual rate of 433,000. This is 6.4 percent (+/- 15.9%)* above the revised March 2014 estimate of 407,000.

Source: U.S. CENSUS BUREAU

If you are interested in determining the value of your home, click the “Home Evaluator” link for a free evaluation report:
http://Lazaro.housingtrendsenewsletter.com/homeworth.cfm

Sound decisions can only be made with accurate and reliable information, and I am happy to be a trusted resource for you. Thank you for the opportunity to provide you with this monthly eNewsletter, and I look forward to answering any questions you may have and to the opportunity to be your REALTOR® in the future.

Sincerely yours,

Lazaro Lopez, PA
Fortune International Realty
1390 Brickell Avenue Suite 104 Miami FL 33133
305-400-6393 | 786-525-9430
Lazaro@fir.com