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Home Sales Improve in August as Year-Over-Year Price Gap Narrows
Home Sales Improve in August as Year-Over-Year Price Gap Narrows
Home Sales Improve in August as Year-Over-Year Price Gap Narrows
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September 16, 2011 (Jeff Alan)

Home sales rebounded in August after a disappointing July as monthly closed transactions increased by 3.7 percent and were 18 percent higher than August 2010 according to RE/MAX’s National Housing Report (NHR).

Forty-seven out of the 53 metro areas in the report posted year-over-year increases in closed transactions. Pittsburgh, PA (+60.6%), Minneapolis, MN (+48.4%), Albuquerque, NM (+43.0%), Milwaukee, WI (+37.1%), Seattle, WA (+29.4%), Phoenix, AZ (+26.4%) and Chicago, IL (+25.7%) recorded the highest gains in closed transactions in August.

Sales prices in August were just 0.6 percent lower than in July and were 3.6 percent lower than in August 2010. The median sales price in August 2011 was $189,831, down from $193,042 in July and down from a median sales price of $196,996 in August of 2010.

Only 10 of the 53 metro areas recorded higher prices in August than they did a year earlier. The areas that posted the largest price gains were Detroit, MI (+15.7%), Orlando, FL (+14.2%), Milwaukee, WI (+10.6%) and Pittsburgh, PA (+2.2%).

The year-over-year median price difference has improved for the last five months. In July the price difference from a year earlier was 4.6 percent.

The average number of days it took to sell a home in August was 90, which was up from 88 days in July. Inventory declined in August as the average months supply of inventory dropped to 6.8 months, down from 7.2 in July and down from a 9.2 months supply of homes in August 2010.

“We’re pleased to see transactions pushing higher in August and without any artificial stimulus.” said Margaret Kelly, CEO of RE/MAX, LLC. “Although the housing recovery will continue to be uneven, the market is struggling to return to normal despite uncertainty in the economy and stubborn unemployment rates.”

Tags: RE/MAX, home sales, home prices, National Housing Report, market recovery, seasonal trends, closed transactions

Source:
RE/MAX

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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 16, 2011 (Jeff Alan)

Home sales rebounded in August after a disappointing July as monthly closed transactions increased by 3.7 percent and were 18 percent higher than August 2010 according to RE/MAX’s National Housing Report (NHR).

Forty-seven out of the 53 metro areas in the report posted year-over-year increases in closed transactions. Pittsburgh, PA (+60.6%), Minneapolis, MN (+48.4%), Albuquerque, NM (+43.0%), Milwaukee, WI (+37.1%), Seattle, WA (+29.4%), Phoenix, AZ (+26.4%) and Chicago, IL (+25.7%) recorded the highest gains in closed transactions in August.

Sales prices in August were just 0.6 percent lower than in July and were 3.6 percent lower than in August 2010. The median sales price in August 2011 was $189,831, down from $193,042 in July and down from a median sales price of $196,996 in August of 2010.

Only 10 of the 53 metro areas recorded higher prices in August than they did a year earlier. The areas that posted the largest price gains were Detroit, MI (+15.7%), Orlando, FL (+14.2%), Milwaukee, WI (+10.6%) and Pittsburgh, PA (+2.2%).

The year-over-year median price difference has improved for the last five months. In July the price difference from a year earlier was 4.6 percent.

The average number of days it took to sell a home in August was 90, which was up from 88 days in July. Inventory declined in August as the average months supply of inventory dropped to 6.8 months, down from 7.2 in July and down from a 9.2 months supply of homes in August 2010.

“We’re pleased to see transactions pushing higher in August and without any artificial stimulus.” said Margaret Kelly, CEO of RE/MAX, LLC. “Although the housing recovery will continue to be uneven, the market is struggling to return to normal despite uncertainty in the economy and stubborn unemployment rates.”

Tags: RE/MAX, home sales, home prices, National Housing Report, market recovery, seasonal trends, closed transactions

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 16, 2011 (Jeff Alan)

Home sales rebounded in August after a disappointing July as monthly closed transactions increased by 3.7 percent and were 18 percent higher than August 2010 according to RE/MAX’s National Housing Report (NHR).

Forty-seven out of the 53 metro areas in the report posted year-over-year increases in closed transactions. Pittsburgh, PA (+60.6%), Minneapolis, MN (+48.4%), Albuquerque, NM (+43.0%), Milwaukee, WI (+37.1%), Seattle, WA (+29.4%), Phoenix, AZ (+26.4%) and Chicago, IL (+25.7%) recorded the highest gains in closed transactions in August.

Sales prices in August were just 0.6 percent lower than in July and were 3.6 percent lower than in August 2010. The median sales price in August 2011 was $189,831, down from $193,042 in July and down from a median sales price of $196,996 in August of 2010.

Only 10 of the 53 metro areas recorded higher prices in August than they did a year earlier. The areas that posted the largest price gains were Detroit, MI (+15.7%), Orlando, FL (+14.2%), Milwaukee, WI (+10.6%) and Pittsburgh, PA (+2.2%).

The year-over-year median price difference has improved for the last five months. In July the price difference from a year earlier was 4.6 percent.

The average number of days it took to sell a home in August was 90, which was up from 88 days in July. Inventory declined in August as the average months supply of inventory dropped to 6.8 months, down from 7.2 in July and down from a 9.2 months supply of homes in August 2010.

“We’re pleased to see transactions pushing higher in August and without any artificial stimulus.” said Margaret Kelly, CEO of RE/MAX, LLC. “Although the housing recovery will continue to be uneven, the market is struggling to return to normal despite uncertainty in the economy and stubborn unemployment rates.”

Tags: RE/MAX, home sales, home prices, National Housing Report, market recovery, seasonal trends, closed transactions

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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