August 2014 National Housing Report

The August 2014 National Housing Report is reflecting slower home sales for the month of July. In fact, July sales have decreased by 3.1 percent from the month of June. However, home prices are still rising showing an increase of 7.9 percent higher than July of 2013. On a year-over-year basis, the Median Sales Price has now risen for thirty consecutive months. Because inventory is improving, home prices are not rising as rapidly as this time last year. Fortunately, home sales are continuing to follow the normal seasonal trends as the inventory environment continues to improve.

Margaret Kelly, RE/MAX CEO states, “After a slow start to the year, 2014 home sales have been improving. Sales are following the expected seasonal pattern and are approaching the levels we saw last year. As inventory continues to build the recovery continues at a more stable and sustainable rate.”

For more information or to download a copy of the August 2014 National Housing Report please click here.

If you’re looking to buy or sell a home in the Phoenix area, please contact the Russo Team today. As experts in the Greater Phoenix real estate market, we can provide you detailed information on available homes, and we know this area inside out. - Frank

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