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Monthly and Yearly Home Sales Up by Double Digits
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You're Now Reading:
Monthly and Yearly Home Sales Up by Double Digits
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
You're Now Reading:
Monthly and Yearly Home Sales Up by Double Digits
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About Mortgages
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Mortgage Rates

The spring/summer selling season continued in full swing in May as monthly and year-over-year closed transactions posted double digit gains according to RE/MAX’s monthly National Housing Report (NHR).

May followed April’s 8.1 percent monthly gain in closed transactions with a 13.2 percent increase and was 11.6 percent higher than in May of 2012, marking the 23rd consecutive month that home sales have increased year-over-year.

Forty-five out of the 53 metro areas in the report posted a year-over-year increase in closed transactions, up from 41 in April. Providence, RI (+25.3%), Raleigh& Durham, NC (+31.6%), Chicago, IL (+31.2%), Albuquerque, NM (+30.3%) and Trenton, NJ (+29.0%), recorded the highest year-over-year gains in closed transactions in May.

Housing supplies continued to remain constrained with the average monthly inventory of homes for sale declining by 0.9 percent from April and were 26.4 percent below the levels seen in May of 2012.

The average month’s supply of homes for sale fell from a 3.6 months supply of homes in April to a 3.5 months supply in May which was down from a 4.9 months supply in May of last year.

The median sales price of the homes sold in May was 4.2 percent higher than in the previous month of April, increasing from $177,200 to $185,000. The median sales price was 10.8 percent higher than the median price of $167,147 in May of 2012. It was the 16th consecutive month that home prices have increased year-over-year following 18 months of declines.

Fifty of the 53 metro areas posted higher sales prices in May than they did a year earlier, up from 49 the previous month. The areas that posted the largest price gains during the month were Detroit, MI (+44.1%), San Francisco, CA (+42.2%), Atlanta, GA (+38.9%), Las Vegas, NV (+31.6%) and Orlando, FL (+24.6%).

The average number of days that a listing stayed on the market fell to 70 in May, down from 77 days in April, and down from the 92 days it took a year ago.

Tags: home sales, home prices, seasonal trends, closed transactions, median sales price

Source:
RE/MAX

Reported by Jeff Alan

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at MortgageLoanRateUpdate and the offers you have received, you've found the right product and the best rate.
HOW
MORTGAGELOANRATEUPDATE
WORKS
Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at Mortgageloanrateupdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Home Buying
Tips
Home Selling
Tips
About
Mortgages
Mortgage
Calculator
Mortgage
Rates

The spring/summer selling season continued in full swing in May as monthly and year-over-year closed transactions posted double digit gains according to RE/MAX’s monthly National Housing Report (NHR).

May followed April’s 8.1 percent monthly gain in closed transactions with a 13.2 percent increase and was 11.6 percent higher than in May of 2012, marking the 23rd consecutive month that home sales have increased year-over-year.

Forty-five out of the 53 metro areas in the report posted a year-over-year increase in closed transactions, up from 41 in April. Providence, RI (+25.3%), Raleigh& Durham, NC (+31.6%), Chicago, IL (+31.2%), Albuquerque, NM (+30.3%) and Trenton, NJ (+29.0%), recorded the highest year-over-year gains in closed transactions in May.

Housing supplies continued to remain constrained with the average monthly inventory of homes for sale declining by 0.9 percent from April and were 26.4 percent below the levels seen in May of 2012.

The average month’s supply of homes for sale fell from a 3.6 months supply of homes in April to a 3.5 months supply in May which was down from a 4.9 months supply in May of last year.

The median sales price of the homes sold in May was 4.2 percent higher than in the previous month of April, increasing from $177,200 to $185,000. The median sales price was 10.8 percent higher than the median price of $167,147 in May of 2012. It was the 16th consecutive month that home prices have increased year-over-year following 18 months of declines.

Fifty of the 53 metro areas posted higher sales prices in May than they did a year earlier, up from 49 the previous month. The areas that posted the largest price gains during the month were Detroit, MI (+44.1%), San Francisco, CA (+42.2%), Atlanta, GA (+38.9%), Las Vegas, NV (+31.6%) and Orlando, FL (+24.6%).

The average number of days that a listing stayed on the market fell to 70 in May, down from 77 days in April, and down from the 92 days it took a year ago.

Tags: home sales, home prices, seasonal trends, closed transactions, median sales price

Source:
RE/MAX

Reported by Jeff Alan

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
HOW
MORTGAGELOANRATEUPDATE
WORKS
Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at MortgageLoanRateUpdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.

The spring/summer selling season continued in full swing in May as monthly and year-over-year closed transactions posted double digit gains according to RE/MAX’s monthly National Housing Report (NHR).

May followed April’s 8.1 percent monthly gain in closed transactions with a 13.2 percent increase and was 11.6 percent higher than in May of 2012, marking the 23rd consecutive month that home sales have increased year-over-year.

Forty-five out of the 53 metro areas in the report posted a year-over-year increase in closed transactions, up from 41 in April. Providence, RI (+25.3%), Raleigh& Durham, NC (+31.6%), Chicago, IL (+31.2%), Albuquerque, NM (+30.3%) and Trenton, NJ (+29.0%), recorded the highest year-over-year gains in closed transactions in May.

Housing supplies continued to remain constrained with the average monthly inventory of homes for sale declining by 0.9 percent from April and were 26.4 percent below the levels seen in May of 2012.

The average month’s supply of homes for sale fell from a 3.6 months supply of homes in April to a 3.5 months supply in May which was down from a 4.9 months supply in May of last year.

The median sales price of the homes sold in May was 4.2 percent higher than in the previous month of April, increasing from $177,200 to $185,000. The median sales price was 10.8 percent higher than the median price of $167,147 in May of 2012. It was the 16th consecutive month that home prices have increased year-over-year following 18 months of declines.

Fifty of the 53 metro areas posted higher sales prices in May than they did a year earlier, up from 49 the previous month. The areas that posted the largest price gains during the month were Detroit, MI (+44.1%), San Francisco, CA (+42.2%), Atlanta, GA (+38.9%), Las Vegas, NV (+31.6%) and Orlando, FL (+24.6%).

The average number of days that a listing stayed on the market fell to 70 in May, down from 77 days in April, and down from the 92 days it took a year ago.

Tags: home sales, home prices, seasonal trends, closed transactions, median sales price

Source:
RE/MAX

Reported by Jeff Alan

Home Buying Tips
Home Selling Tips
About
Mortgages
HOW
MORTGAGELOANRATEUPDATE
WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at MortgageLoanRateUpdate and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.