Thanks to strong homebuyer demand in the national real estate market in June, median home prices and sales levels increased, according to Re/Max. Re/Max surveyed 53 metro areas across the country to determine the data points in its National Housing Report, finding median home prices increased 2.2 percent to $229,900 year-over-year. This is nearly a 3 percent increase over May. And although the total number of homes for sale dropped 15.6 percent from the same time since the previous year, inventory on the national scale increased to 3.2 months, just beating out May's three months' supply. Markets that showed notable annual rises through June were Augusta, Maine, with 22.7 percent growth in closed transactions, and Las Vegas, with 13.2 percent growth. Of the 53 markets surveyed by Re/Max, 31 experienced growth in overall sales. There were only four markets where median sales price did not increase. Seven markets showed double-digit growth, with Tampa, Florida, bumpi...
- The Re/Max National Housing Report showed that median home price across the country rose only 0.7 percent to $229,000 since June of last year.
- Augusta, Maine, had the highest percentage of growth in closed transactions, at 22.7 percent.
- Out of the 53 metro areas surveyed, 31 experienced growth in closed transactions.