Home Sales on Rise for 13 Straight Months!

According to the July RE/MAX National Housing Report, home sales have been on the rise for the past 13 consecutive months! The home sales in July 2012 were 10.3% higher than they were in July 2011. It shows that the housing market is finally improving. Median home prices are now higher than they were last year, and have been for 6 months in a row. The only challenge that this recovering market is seeing now has to do with housing inventory. The amount of homes that are available for sale has decreased by 26.8% compared to last year. In fact, if there was a greater inventory available to homebuyers, home sales would most definitely be higher. There is an increased demand but a shrinking inventory. The only things that are lacking now would be lower unemployment rates and better availability of mortgages.

Posted in: home sales,inventory,median home prices,RE/MAX National Housing Report