RE/MAX: Home Sales Down, But Prices Soar

Aug 17, 2017

Single-family housing starts in July were at a rate of 856,000

Home sales during July dropped 0.8 percent year-over-year and plummeted by 15.8 percent compared to June, but the median sales price of $239,500 was up 7.4 percent from one year earlier, according to new data from RE/MAX.

Nineteen of the 54 metro areas experienced tracked by RE/MAX saw an increase in sales year-over-year, most notably Las Vegas at 19.8 percent and Delaware’s Wilmington/Dover metro corridor at 16.9 percent. Only two metro areas saw a year-over-year decrease in the median sales price—Billings, Mont., with a 2.2 percent fall and Anchorage at a 0.7 percent dip—while Houston’s level was unchanged from July 2016.

The average number of days on the market for homes sold in July was 45, down two days from the average in June and down eight days from the July 2016 average. The number of homes for sale in July was down 2.1 percent from the previous month and down 14.1 percent from July 2016

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Phil Hall

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Aug 17, 2017

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