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Home Sales Come Back Strong in August
Home Sales Come Back Strong in August
Home Sales Come Back Strong in August
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September 25, 2012 (Jeff Alan)

Monthly sales of existing homes increased in August after a modest decline in July according to RE/MAX’s National Housing Report (NHR) while home prices remained flat for a second month but still outperformed the previous year for the seventh consecutive month.

Closed transactions of home purchases increased 2.5 percent from July to August and were 8.5 percent higher than in August of 2011, the 14th consecutive month home sales have increased year-over-year.

Forty-four out of the 53 metro areas in the report posted year-over-year increases in closed transactions, unchanged from July. Billings, MT (+36.2%), Trenton, NJ (+35.6%), Raleigh-Durham, NC (+28.9%), Albuquerque, NM (+28.7%), Chicago, IL (+28.1%) and Nashville, TN (+27.8%) recorded the highest year-over-year gains in closed transactions in August.

The median sales price of the homes sold in August was 0.2 percent lower than in the previous month of July, falling from $169,000 to $168,685. The median sales price was still 6.3 percent higher than the median price of $158,875 in August of 2011. It was the seventh consecutive month that home prices have increased year-over-year following 18 months of declines.

Forty-six of the 53 metro areas posted higher sales prices in August than they did a year earlier, up from 42 metro areas the previous month. The areas that posted the largest price gains during the month were Phoenix, AZ (+33.9%), Boise, ID (+24.1%), San Francisco, CA (+22.6%), Las Vegas, NV (+19.0%), Miami, FL (+17.8%) and Billings, MT (+16.6%).

Housing supplies continued to dwindle with the average monthly inventory of homes for sale declining by 6.7 percent from July and 29.7 percent from August 2011. It was the 26th consecutive month that the supply of homes for sale has declined.

Declining inventory and an uptick in sales for the month pushed the average month’s supply of inventory down for the first time in three months, falling from a 5.3 months supply of homes in July to a 4.9 months supply in August and down from a 6.8 months supply in August of last year.

Homes did sell slightly faster in August, falling from an average of 82 days in July to 81 days in August.

Tags: home sales, home prices, seasonal trends, closed transactions, median sales price

Source:
RE/MAX

FILL OUT THE FORM
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Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
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Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
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NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Information You Can Use
Helpful Tools
Mortgage
Calculator
Estimate your monthly mortgage payment
Auto Loan
Calculator
Determine how much car you can afford before buying
Learn About
Mortgage Loans
Learn about the different types of home loans
15 Year vs 30 Year
Loan Comparison
Compare 15 year and 30 year mortgage loans
Todays Mortgage
Rates
See today's mortgage rates. Shop, compare and save.

September 25, 2012 (Jeff Alan)

Monthly sales of existing homes increased in August after a modest decline in July according to RE/MAX’s National Housing Report (NHR) while home prices remained flat for a second month but still outperformed the previous year for the seventh consecutive month.

Closed transactions of home purchases increased 2.5 percent from July to August and were 8.5 percent higher than in August of 2011, the 14th consecutive month home sales have increased year-over-year.

Forty-four out of the 53 metro areas in the report posted year-over-year increases in closed transactions, unchanged from July. Billings, MT (+36.2%), Trenton, NJ (+35.6%), Raleigh-Durham, NC (+28.9%), Albuquerque, NM (+28.7%), Chicago, IL (+28.1%) and Nashville, TN (+27.8%) recorded the highest year-over-year gains in closed transactions in August.

The median sales price of the homes sold in August was 0.2 percent lower than in the previous month of July, falling from $169,000 to $168,685. The median sales price was still 6.3 percent higher than the median price of $158,875 in August of 2011. It was the seventh consecutive month that home prices have increased year-over-year following 18 months of declines.

Forty-six of the 53 metro areas posted higher sales prices in August than they did a year earlier, up from 42 metro areas the previous month. The areas that posted the largest price gains during the month were Phoenix, AZ (+33.9%), Boise, ID (+24.1%), San Francisco, CA (+22.6%), Las Vegas, NV (+19.0%), Miami, FL (+17.8%) and Billings, MT (+16.6%).

Housing supplies continued to dwindle with the average monthly inventory of homes for sale declining by 6.7 percent from July and 29.7 percent from August 2011. It was the 26th consecutive month that the supply of homes for sale has declined.

Declining inventory and an uptick in sales for the month pushed the average month’s supply of inventory down for the first time in three months, falling from a 5.3 months supply of homes in July to a 4.9 months supply in August and down from a 6.8 months supply in August of last year.

Homes did sell slightly faster in August, falling from an average of 82 days in July to 81 days in August.

Tags: home sales, home prices, seasonal trends, closed transactions, median sales price

Source:
RE/MAX

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
HOW LOANRATENETWORK
LOAN CENTER WORKS
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Information You Can Use
Helpful Tools

September 25, 2012 (Jeff Alan)

Monthly sales of existing homes increased in August after a modest decline in July according to RE/MAX’s National Housing Report (NHR) while home prices remained flat for a second month but still outperformed the previous year for the seventh consecutive month.

Closed transactions of home purchases increased 2.5 percent from July to August and were 8.5 percent higher than in August of 2011, the 14th consecutive month home sales have increased year-over-year.

Forty-four out of the 53 metro areas in the report posted year-over-year increases in closed transactions, unchanged from July. Billings, MT (+36.2%), Trenton, NJ (+35.6%), Raleigh-Durham, NC (+28.9%), Albuquerque, NM (+28.7%), Chicago, IL (+28.1%) and Nashville, TN (+27.8%) recorded the highest year-over-year gains in closed transactions in August.

The median sales price of the homes sold in August was 0.2 percent lower than in the previous month of July, falling from $169,000 to $168,685. The median sales price was still 6.3 percent higher than the median price of $158,875 in August of 2011. It was the seventh consecutive month that home prices have increased year-over-year following 18 months of declines.

Forty-six of the 53 metro areas posted higher sales prices in August than they did a year earlier, up from 42 metro areas the previous month. The areas that posted the largest price gains during the month were Phoenix, AZ (+33.9%), Boise, ID (+24.1%), San Francisco, CA (+22.6%), Las Vegas, NV (+19.0%), Miami, FL (+17.8%) and Billings, MT (+16.6%).

Housing supplies continued to dwindle with the average monthly inventory of homes for sale declining by 6.7 percent from July and 29.7 percent from August 2011. It was the 26th consecutive month that the supply of homes for sale has declined.

Declining inventory and an uptick in sales for the month pushed the average month’s supply of inventory down for the first time in three months, falling from a 5.3 months supply of homes in July to a 4.9 months supply in August and down from a 6.8 months supply in August of last year.

Homes did sell slightly faster in August, falling from an average of 82 days in July to 81 days in August.

Tags: home sales, home prices, seasonal trends, closed transactions, median sales price

Source:
RE/MAX

HOW LOANRATENETWORK
LOAN CENTER WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Information You Can Use

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