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Real Estate Sales up, Prices up, Inventory down!
The National Association of Realtors reported that August Sales are UP, UP, UP! To be more precise they are UP 7.6% to 4.13 million from July’s record low. The listing inventory is DOWN 1/2 percent and the median home sale price is UP almost 1% to $178,600.
Home sales increased 8% in the Northeast, 14% in the West, 5% in the South and 5% in the Midwest from last month, although it is still significantly down from this time last year when Housing Stimulus Package was in place. Nevertheless, this is all GREAT NEWS because we are seeing progress, inventory is decreasing, prices are increasing and sales are up.
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