As has been true throughout 2014, August home sales remained below the pace set in 2013, according to the RE/MAX National Housing Report for September 2014. However, last month’s sales were 10.2% above the number of sales seen in August 2012, and were 17.8% higher than August 2008 sales, when the RE/MAX Housing Report began. The Median Sales Price of all homes sold in the 52 metropolitan areas surveyed in August was $202,500, which was 7.5% higher than the median price last August. While home prices continue to rise in 2014, they’re rising at a much slower rate than in 2013. The inventory of homes for sale was 4.4% lower than last year. At the rate of home sales in August, the Months Supply of Inventory rose to 4.5 on a scale where 6.0 indicates a market balanced equally between buyers and sellers.
This is an excerpt; view the complete September RE/MAX National Housing Report here.
