The 2013 summer selling season ends on a strong positive note, with both
home sales and prices significantly higher than last year.
August becomes the 19th month in a row that both metrics were higher than the same month in
the previous year.
August home sales were up 6.5% and the Median Price of
$188,450 was 12.9% higher than August 2012.
The RE/MAX Housing Report, a survey of MLS data in 52 metropolitan areas, also found that the
rate of inventory decline from last year was 17.4%, less than the 20.7% decline observed in July.
As inventory returns to a more normal level, home prices will likely stabilize. At the current rate of home sales, the number of months
required to move the entire inventory was 4.4, still below the 6 month supply recognized as a market balanced between buyers and sellers.
Read the full report: REMAX National Housing Report September 2013