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Home prices - where we are going.
Last week, Keller Williams Realty held its annual, Mega Agent Camp.  At Mega Camp, agents from all over the county join to insight into how top producing real estate agents have achieved their success.  Gary Keller and Jay Papasan, authors of the Millionaire Real Estate agent, also shared a look at what is going on in the Real Estate market. 
Here is a summary of what was covered on home prices.
"The annual pace of home sales in July was 17.2 percent higher than it was last year, putting the industry on pace for the best year in home sales since 2006. The last time we saw this number was 2003.
The monthly median home price in July was $213,500;  up 25.1 percent from January to July 2013. For 2013, the average median price YTD for 2013 was $198K. Though home prices have been increasing year-over-year for 17 consecutive months, that number still sits below the long-term 4 percent trend line."
What does this mean? There’s still room for prices to improve! If we follow the historic trend of sales prices increasing 4% each year, we are still behind where we should be.  The positive is, that we are improving at ... more

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