Snap Shot Of RE Market

Snap Shot Of RE Market

With economic data, we actually look backwards to form a vision of what lies ahead.In May, Existing Home Sales grew 1.8% to a solid 5.53 million unit annual rate, their highest sales pace in more than nine years. Many see demand building in the future, based on that strength last month. Homes typically were on the market only 32 days, the shortest duration since the National Association of Realtors started tracking that data back in 2011. Even better, 49% of existing homes sold in less than a month. This level of demand helped send the median price 4.7% higher than a year ago, the 51st month in a row of annual price gains.

Victor DeFrisco Headshot
Phone: 561-951-3759
Dated: July 1st 2016
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