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Fall 2014 National Real Estate SummaryUS Market Snapshot

Home Prices Rising Slowly - Market Achieving Balance

The 3rd quarter is the first quarter where we see a clear trend towards a more balanced market place. Seller activity is increasing, inventories are staying on the market longer, buyer activity is slowing, and price appreciation is slow and steady.

According to the most recent Current Market Conditions national grass roots survey conducted by HouseHunt.com, home prices continue to rise in most areas of the country with 89% of the communities surveyed showing year-over-year price appreciation down from 93% last quarter and the same 89% one year ago. Our members surveyed indicated that home price appreciation is definitely slowing with 25% of the communities surveyed reporting double digit annual home price increases compared to 37% in the 2nd quarter 2014 and 54 % one year ago. According to the National Association of Realtors (NAR), housing prices are expected to rise between 5.5% and 6% in 2014; the latest report by NAR in September reported the national median home price increasing at a rate of 5.6% from September of 2013 which is right on target year over year.

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