May 2014 National Housing Report

It’s refreshing to see the housing market stabilizing and home sales, much like our Arizona temperatures, are still continuing to rise. According to the RE/MAX May National Housing Report, April home sales rose higher than in March for the second month in a row. Year over year home prices are reflecting a 5.8 percent increase from this time last year, and April became the thirteenth consecutive month with fewer inventory losses than the previous month.

RE/MAX CEO, Margaret Kelly states, “After the disruptions to the market at the beginning of the year, it’s a good sign that sales have picked up and have now increased for two months in a row. While sales and prices aren’t growing at the rate they did last year, we still remain in a recovery with the market settling into a more sustainable growth pattern.”

So far, the greatest monthly sale increases were seen in metros from a variety of geographic regions. Click here to view the current RE/MAX National Housing Report. If you or someone you know is considering a home purchase or sale, please give the Russo Team a call today.

Join us on Facebook and Twitter