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- NAR recently released a summary of existing home sales data showing that existing home sales continued to improve in June, reaching an annual pace of 5 million for the first time this year. June marks the third consecutive month of increased sales, and June's figures represent a 2.6% improvement from last month, though sales are still 2.3% below a year ago.
- The national median existing-home price for all housing types was $223,300 in June, up 4.3% percent from June 2013. June’s data also continues a trend of year-over-year price gains for the past two years.
- All regions showed growth in prices, except the Northeast, which experienced a minor decline of 0.1%. The West continues to maintain the biggest price gain at 7.2% from a year ago.
- June’s inventory figures increased by 6.5% from a year ago - it will take 5.5 months to move the current level of inventory. It takes approximately 44 days for a home to go from listing to a contract in the current housing market.
- Distressed sales are showing signs of thinning out. All cash buyers are still strong, representing 1/3 of the home purchasing population. Home buyers are moving into condos at a higher rate than single family homes while single family prices are rising faster than condo prices.
Notice: The information on this page may not be current. The archive is a collection of content previously published on one or more NAR web properties. Archive pages are not updated and may no longer be accurate. Users must independently verify the accuracy and currency of the information found here. The National Association of REALTORS® disclaims all liability for any loss or injury resulting from the use of the information or data found on this page.
