July Real Estate Market Update from RE/MAX
Posted on August 22, 2014
RE/MAX, one of the world’s most productive real estate sales forces, researches over 52 metropolitan markets across the country on a monthly basis so that agents, buyers and sellers can better gauge where the US Housing Market stands.
The recovery as a whole was off to a slow start at the beginning of the year, but since then report statistics point to signs of a more stable growth pattern.
While it is true that these numbers can range from market to market, Emerald Coast real estate included, it is an excellent source to compare local and national conditions. So, what do July’s number indicate?
First, home sales have slowed in pace compared to 2013, but prices are on the rise. On a year-over-year basis, this marks the 30th consecutive month of an increased median sales price. The rise is not as rapid as last year, but this is in part due to increasing inventory. Currently the supply of inventory is at 4.3 and the standard that indicates when market is balanced between buyers and seller is 6.
Are you interested in how these national averages will affect your home? Our RE/MAX Southern real estate agents will be happy to explain. Call 1-800-879-0309 for more information on your local market.
Posted in: Real Estate Market |Tagged: RE/MAX, Real Estate.