July 2013 National Housing Report from RE/MAX

June marks the seventeenth month in a row that both home sales and prices have been higher than the same month last year. The median price of homes sold in June was $193,750, which is 12.6% higher than the median price last June. The RE/MAX Housing Report, a survey of MLS data in 52 metropolitan areas, also found that home sales in June were 4.1% greater than sales in June 2012.

“Summer sales are traditionally the strongest of the year, but this year we’re seeing sales at a double-digit pace above last summer. Even after the recession, interest in homeownership remains quite high. Low mortgage rates and attractive home prices are still creating opportunities with the best home affordability the market has seen in years.” Margaret Kelly, CEO of RE/MAX, LLC.

At the current sales rate, it will only take 3.9 months to clear the entire inventory of homes on the market – these conditions make it very favorable for sellers. In the first quarter, over 800,000 homeowners regained positive equity. If you are considering a move, but have a home to sell, now is a good time to look at your property values.

To read the July 2013 National Housing Report from RE/MAX, click here. If you or someone you know is considering a home purchase or sale, please call the Russo Team today.


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