Both sales and prices are on the rise from all of the data we currently have.
National median home prices have grown by 2.3 percent for the month of July. When the NAR (National Association of Realtors) breaks down the numbers, we see an increase of 2.1 percent for SFR (single family residences) and an increase of 4.3 percent on existing condominiums and co-ops.
We aren’t just seeing these gains in certain areas; all regions are posting gains in existing-home sales for the month.
Seeing the median home price rise by 9.4 percent over July of 2011 is big. The median home price (nationally) is now $187,300. The NAHB (National Association of Home Builders) reports, “The last time there were five back-to-back increases from a year earlier was in January to May of 2006. The July gain was the strongest since January 2006 when the median price rose 10.2 percent from a year earlier.’
The current Case-Shiller Home Price Indices represents data through June of 2012. It shows that ALL THREE headline composites ended the second quarter of 2012 with positive annual growth rates for the first time since the summer of 2010.
“All 20… Continue Reading
