National Housing Report Shows Soaring Sales for Summer

The temperature isn’t the only thing rising in the Valley of the Sun. The most recent RE/MAX National Housing report is showing soaring sales for summer that will hopefully carry over throughout the season. Home sales in April were greater than in any other April since the RE/MAX National Housing Report began in 2008. This continued a three-month trend in which sales were higher than both the previous month and the same month in the previous year.

The Median Sales Price of a home sold in April was $203,500, which was 7.1 percent above the price in April 2014. The inventory of homes for sale appears to be starting an upward trend, with a 2.3 percent increase from the inventory in March. With a growing rate of home sales, the resulting Months Supply of inventory in April was 3.6 on a scale where 6.0 months indicates a market balanced equally between buyers and sellers. The average month-over-month increase for the first four months of 2015 has been 4.0 percent. February, March and April 2015 have all recorded the highest number of sales in these months.

“The spring selling season has gotten off to a very strong start. We saw a significant jump in sales in March, and now April has pushed even higher. With an improving economy and continuing low interest rates, potential buyers are motivated to enter the market. These conditions, along with rising prices are also encouraging sellers.”

Dave Liniger, RE/MAX, LLC CEO, Chairman and Co-Founder

 

Among the 53 metro areas surveyed, 50 reported higher sales prices than one year ago, with 15 rising by double-digit percentages. Click here to download your copy of the April 2015 RE/MAX National Housing Report.

If you’re looking to sell your Arizona home or to purchase an Arizona home this year, please contact the Russo Team today and receive a complimentary analysis of your home’s approximate present value on the market today. Your complete satisfaction with our service and representation is always our number one priority. -Frank

www.RussoTeam.com
602-864-1200

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