Skip to main content

RE/MAX: Homes Sales Up 9.4 Percent

Phil Hall
Jul 15, 2016

Home sales in June saw a 9.4 percent increase from May and a 0.7 percent year-over-year uptick, according to new data from RE/MAX.

Thirty-one of the 53 metro areas analyzed by RE/MAX reported higher year-over-year sales in June, with six enjoying double-digit increases: Augusta, Maine (22.7 percent), Las Vegas (13.2 percent), New York City (13.1 percent), Trenton, N.J. (11.1 percent), Cleveland (11.1 percent) and Hartford, Conn. (10.2 percent). The national median sales price last month was $229,900, up three percent from May—marking the 53rd consecutive month of median price increases—and up 2.2 percent from June 2015. Only four metro areas saw a year-over-year median sales price decline in June.

The average number of days on market for all homes sold in June was 54, down four days from the average of 58 in both May and June 2015. The national average for inventory supply was 3.2 months, up slightly from May’s three months but slightly below the 3.6 month average last year.

“Last year was the best we’d seen in a long time for home sales,” said Dave Liniger, RE/MAX CEO and chairman. “So, it’s encouraging that sales this year are remaining above last year’s levels. Moderating prices are a good thing for this market. Homeowners are still seeing improvement in their equity, while there’s less chance of homebuyers being priced out. We have to wait out the ongoing inventory challenges, but the month-over-month stabilization we’re seeing is a very good sign.” 

Jul 15, 2016
Planet Home Lending Reports Total Origination Volume Of $6.8B In Q2 2021

Planet Home Lending's total origination volume reached $6.8 billion in Q2 2021, up 77% from $3.9 billion in Q2 2020.

Industry News
Jul 22, 2021
FHFA Ends Controversial Refinance Fee

The FHFA announced that Fannie Mae and Freddie Mac will eliminate the Adverse Market Refinance Fee for loan deliveries, starting August 1, 2021.

Analysis and Data
Jul 19, 2021
Interfirst Mortgage Launches ONE, Backed By Non-Owner Occupied Properties

ONE is a unique product built on a single interest rate with no adjustments and qualifies off the cash flow of the rental property.

Industry News
Jul 16, 2021
Global Digital Lending Market Projected To Reach $27B By 2028

The Global Digital Lending Platform Market was valued at $7.14 billion in 2020 and is projected to reach $27.07 billion by 2028.

Analysis and Data
Jul 14, 2021
FOMC Discusses Raising Interest Rates

Inflationary pressures have finally forced the Federal Open Market Committee (FOMC) to discuss raising interest rates and tapering its bond-buying program.

Analysis and Data
Jul 14, 2021
Fathom Holdings Inc. Creates New Hispanic Division

Fathom Holdings Inc., a technology-driven real estate platform, announced the creation of their Hispanic Division to more adequately serve this fast-growing demographic. 

Industry News
Jul 07, 2021