National Housing Report – June 2014

Home sales are seeing a positive upswing for the third month in a row this year with forty-nine out of fifty-two of the metro areas reporting higher sales than the previous month.  May became the sixth consecutive month with fewer year-over-year inventory losses than the previous month despite tight credit availability and inventory.

“The usually strong spring selling months appear to be following traditional growth patterns. We’ve now seen three straight months of increased sales over the previous month - although we may not match the growth rates we saw last year, we are seeing significant increases in both sales and prices and that’s a positive sign,” states Margaret Kelly, RE/MAX CEO

 

The average Days on Market for all homes sold in May was sixty-six which is eight days lower than the average seen in April and four days lower than the average in May last year. The low Days on Market average continues to be the result of a low inventory of homes for sale.

You can view the video below for additional housing report details or click here to read the RE/MAX National Housing Report for June 2014.

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 

www.RussoTeam.com
602-864-1200

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