RE/MAX Tracks Autumnal Cooling in Housing – NMP Skip to main content

RE/MAX Tracks Autumnal Cooling in Housing

Phil Hall
Oct 15, 2015
Autumn Housing

The change of seasons brought about more than a chill in the air: The latest RE/MAX National Housing Report found home sales down 8.6 percent in September versus August.

On a year-over-year basis, however, September’s volume was up 6.8 percent, with 45 of the 53 metro areas surveyed for the report experiencing higher year-over-year sales and 22 experiencing double-digit increases.

The number of homes for sale in September was three percent below August’s level and 12.8 percent lower than the level recorded in September 2014. The average loss of inventory on a year-over-year basis for the first nine months of 2015 was 11.8 percent.

RE/MAX determined that the median sales price was $209,000, down 3.2 percent from August but 7.2 percent higher than September 2014. Among the 53 metro areas surveyed in September, 48 reported higher year-over-year prices, with 10 markets experiencing increases by double-digit percentages.

Dave Liniger, RE/MAX CEO and chairman, was not perturbed by the month-over-month declines.

“Home sales usually cool down in the fall and it looks like this year is no exception, but September is falling right in line with the summer months with sales much higher than last year,” he said. “Prices are also moderating on a month-to-month basis, and mortgage rates remain low. This translates to more attractive home affordability.”

Oct 15, 2015
Chairman Xu Sells Off Personal Assets To Avoid Default

The Evergrande saga continues as Chairman Xu Jiayin sells off 7 billion yuan ($1.1 billion) of his personal assets to prop up the deflating property giant.

Industry News
Nov 23, 2021
OptiFunder Secures $25 Million In Capital

OptiFunder, a warehouse management system provider for mortgage originators, raised $25 million in additional capital lead by Arthur Ventures, a growth capital firm focused on high-growth, founder-led and capital efficient B2B software companies.

Nov 23, 2021
Mortgage Company Donates $100K To High School In Memory Of Fallen U.S. Navy Corpsman

Cleveland-based CrossCountry Mortgage donated $100,000 to Milan Edison High School in memory of U.S. Navy Corpsman, Maxton W. Soviak, who died while assisting in the evacuation of Americans and refugees in Afghanistan in August.

Nov 23, 2021
MISMO Seeks To Standardize Pre-Closing Title Data

Forming workgroup to focus on standardizing document datasets to streamline process and increase efficiency.

Industry News
Nov 23, 2021
Pandemic's Impact On Real Estate Around The World

Although the impact of the COVID-19 pandemic on the real estate industry has been well-documented within the United States, it’d be prudent to know how the global event impacted other countries as well. 

Industry News
Nov 22, 2021
Housing Market Potential Strengthens Modestly

First American Financial Corporation's Potential Home Sales Model for October 2021 reported that potential existing-home sales increased 0.1% month-over-month to 6.27 million, with household formation continuing to grow, largely driven by millennials.

Analysis and Data
Nov 22, 2021