Home Sellers Can't Sell If They Can't Find a Next Home to Move Into
NEW YORK (TheStreet) -- There's some good news for U.S. homeowners in early 2014, especially those who want to sell.
Data from Seattle's Redfin citing figures culled from 19 major real estate markets show home prices up 14.3% in January from a year earlier. All 19 markets posted gains on home values.
At the same time, there is a lack of homes for sale, with inventory down 9.4% from a year earlier due to a lack of "demand growth," the company says.
Redfin says only 28% of its customers made an offer on a "for sale" home last month, compared with 42% at the same time in 2013. That's the case even as homebuyers taking in visits to homes remains stable at 50% -- it's just that those visits aren't leading to offers.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV