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RE/MAX: Year-Over-Year Home Sales Up for 12th Month
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You're Now Reading:
RE/MAX: Year-Over-Year Home Sales Up for 12th Month
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:
RE/MAX: Year-Over-Year Home Sales Up for 12th Month
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July 18, 2012 (Jeff Alan)

Monthly sales of existing homes improved for the fifth consecutive month in June according to RE/MAX’s National Housing Report (NHR) while year-over-year, home sales have exceeded the previous year’s levels for 12 consecutive months.

Closed transactions of home purchases increased 2.1 percent from May to June and were 5.0 percent higher than in June of 2011, the twelfth consecutive month home sales have increased year-over-year.

Forty out of the 53 metro areas in the report posted year-over-year increases in closed transactions, down from 48 metro areas in May. Fargo, ND (+37.1%), Providence, RI (+29.5%), Burlington, VT (+27.5%), Manchester, NH (+27.2%), Augusta, ME (+25.2%), and Chicago, IL (+22.1%) recorded the highest year-over-year gains in closed transactions in June.

The median sales price of homes sold in June was 2.5 percent higher than in the previous month of May, increasing from $166,500 to $170,067. The median sales price was 3.7 percent higher than the median price of $163,995 in June of 2011. It was the fifth consecutive month that home prices have increased year-over-year following 18 months of declines.

Forty-four of the 53 metro areas posted higher sales prices in June than they did a year earlier, down from 46 metro areas the previous month. The areas that posted the largest price gains during the month were Phoenix, AZ (+29.5%), Detroit, MI (+23.3%), Miami, FL (+21.5%), Boise, ID (+16.3%), Denver (+14.9%) and Pittsburgh, PA (+9.5%).

The average number of days it took to sell a home in June was 84, eight days less than in May. The average month’s supply of inventory in June was 5.0, up from a 4.9 month’s supply in May, but still down from a 6.9 months supply of homes in June 2011.

Housing supplies continued to dwindle with the average monthly inventory of homes for sale declining by 5.0 percent from May and 27.4 percent from June 2011. It was the 24th consecutive month that the supply of homes for sale has declined.

Margaret Kelly, CEO of RE/MAX, LLC., stated, “Although the housing market has a long way to go to make a full recovery, all signs now show that it’s on the right path and has improved every month so far this year. This selling season is the best in years, and those who thought that the positive trends would quickly correct have been proven wrong, because many consumers again feel comfortable buying or selling a home.”

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

Source:
RE/MAX

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It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
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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.
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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.
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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.
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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.
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July 18, 2012 (Jeff Alan)

Monthly sales of existing homes improved for the fifth consecutive month in June according to RE/MAX’s National Housing Report (NHR) while year-over-year, home sales have exceeded the previous year’s levels for 12 consecutive months.

Closed transactions of home purchases increased 2.1 percent from May to June and were 5.0 percent higher than in June of 2011, the twelfth consecutive month home sales have increased year-over-year.

Forty out of the 53 metro areas in the report posted year-over-year increases in closed transactions, down from 48 metro areas in May. Fargo, ND (+37.1%), Providence, RI (+29.5%), Burlington, VT (+27.5%), Manchester, NH (+27.2%), Augusta, ME (+25.2%), and Chicago, IL (+22.1%) recorded the highest year-over-year gains in closed transactions in June.

The median sales price of homes sold in June was 2.5 percent higher than in the previous month of May, increasing from $166,500 to $170,067. The median sales price was 3.7 percent higher than the median price of $163,995 in June of 2011. It was the fifth consecutive month that home prices have increased year-over-year following 18 months of declines.

Forty-four of the 53 metro areas posted higher sales prices in June than they did a year earlier, down from 46 metro areas the previous month. The areas that posted the largest price gains during the month were Phoenix, AZ (+29.5%), Detroit, MI (+23.3%), Miami, FL (+21.5%), Boise, ID (+16.3%), Denver (+14.9%) and Pittsburgh, PA (+9.5%).

The average number of days it took to sell a home in June was 84, eight days less than in May. The average month’s supply of inventory in June was 5.0, up from a 4.9 month’s supply in May, but still down from a 6.9 months supply of homes in June 2011.

Housing supplies continued to dwindle with the average monthly inventory of homes for sale declining by 5.0 percent from May and 27.4 percent from June 2011. It was the 24th consecutive month that the supply of homes for sale has declined.

Margaret Kelly, CEO of RE/MAX, LLC., stated, “Although the housing market has a long way to go to make a full recovery, all signs now show that it’s on the right path and has improved every month so far this year. This selling season is the best in years, and those who thought that the positive trends would quickly correct have been proven wrong, because many consumers again feel comfortable buying or selling a home.”

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

Source:
RE/MAX

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.

July 18, 2012 (Jeff Alan)

Monthly sales of existing homes improved for the fifth consecutive month in June according to RE/MAX’s National Housing Report (NHR) while year-over-year, home sales have exceeded the previous year’s levels for 12 consecutive months.

Closed transactions of home purchases increased 2.1 percent from May to June and were 5.0 percent higher than in June of 2011, the twelfth consecutive month home sales have increased year-over-year.

Forty out of the 53 metro areas in the report posted year-over-year increases in closed transactions, down from 48 metro areas in May. Fargo, ND (+37.1%), Providence, RI (+29.5%), Burlington, VT (+27.5%), Manchester, NH (+27.2%), Augusta, ME (+25.2%), and Chicago, IL (+22.1%) recorded the highest year-over-year gains in closed transactions in June.

The median sales price of homes sold in June was 2.5 percent higher than in the previous month of May, increasing from $166,500 to $170,067. The median sales price was 3.7 percent higher than the median price of $163,995 in June of 2011. It was the fifth consecutive month that home prices have increased year-over-year following 18 months of declines.

Forty-four of the 53 metro areas posted higher sales prices in June than they did a year earlier, down from 46 metro areas the previous month. The areas that posted the largest price gains during the month were Phoenix, AZ (+29.5%), Detroit, MI (+23.3%), Miami, FL (+21.5%), Boise, ID (+16.3%), Denver (+14.9%) and Pittsburgh, PA (+9.5%).

The average number of days it took to sell a home in June was 84, eight days less than in May. The average month’s supply of inventory in June was 5.0, up from a 4.9 month’s supply in May, but still down from a 6.9 months supply of homes in June 2011.

Housing supplies continued to dwindle with the average monthly inventory of homes for sale declining by 5.0 percent from May and 27.4 percent from June 2011. It was the 24th consecutive month that the supply of homes for sale has declined.

Margaret Kelly, CEO of RE/MAX, LLC., stated, “Although the housing market has a long way to go to make a full recovery, all signs now show that it’s on the right path and has improved every month so far this year. This selling season is the best in years, and those who thought that the positive trends would quickly correct have been proven wrong, because many consumers again feel comfortable buying or selling a home.”

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

Source:
RE/MAX

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.