RE/MAX National Housing Report for May 2013

Home Prices, Sales Increase: Inventory Improves

April RE/MAX National Housing Report, a survey of MLS data from 52 U.S. metropolitan areas, contained signs of a strong housing recovery in regions across the country. Low inventories contribute to a limited growth in sales, preventing some buyers from closing on the home of their choice. But if inventories can rise to a more balanced level, the recovery should strengthen and experience even more home sales. The Months Supply of homes for sale at April’s pace of sales was just 3.6 months, the lowest supply since the RE/MAX National Housing Report began in August 2008.

“April was exactly what we needed at this time in the housing recovery. Home sales and prices continued to rise, while we started to see improvement in the number of homes for sale,” said Margaret Kelly, CEO of RE/MAX, LLC. “It may take a few months, but as prices rise and more homeowners gain positive equity, we should see an increase in the inventory of homes for sale, resulting in a much better selection for potential homebuyers.”

The April RE/MAX National Housing Report showed an 8.1% increase in Closed Transactions over March and a 10.5% increase over sales in April 2012. This makes April the 22nd month in a row experiencing higher sales than the same month in the previous year. Real estate agents across the country are reporting increased traffic and expect the upcoming summer selling season to be even stronger than last summer.

If you or someone you know has a home to sell, now is a good time to find out what your property values are. Low inventory and rising values are the perfect conditions for selling a home. Call me today for a complimentary market analysis. Frank

To read the full National Housing Report for May 2013, click here

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