Median Price for Existing Home at Highest Level Since 2008

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Real Estate Agent with Property Executives Realty

The median price of an existing single family home rose in June to the highest level in almost four years, the fifth straight month-to-month gain, NAR reported recently. The median price was up 7.9 percent from June 2011. Existing home sales dropped to 4.37 million in June to the lowest level since last October, NAR said. It was the fourth drop in the last five months. Economists had expected the sales pace to increase to 4.65 million from 4.62 million in May.

 

Distressed homes accounted for 25% of all June sales, unchanged from May but 30% below June 2011 levels.

 

For more information visit:  http://www.housingwire.com/news/home-prices-rise-sales-fall-limited-inventory

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Rainmaker
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Li Read
Sea to Sky Premier Properties (Salt Spring) - Salt Spring Island, BC
Caring expertise...knowledge for you!

Very good news, indeed...the "lift" seems to be occurring everywhere.

Aug 03, 2012 03:16 AM #1
Rainer
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April Swenson
Coldwell Banker Ocean Shores Brokers - Ocean Shores, WA
CRS and Managing Broker - Ocean Shores Real Estate

Thank you for the news report.  I had not heard this.  I am especially impressed with 30% drop stat....that is great news.

Aug 03, 2012 03:24 AM #2
Rainmaker
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Pete Xavier
Investments to Luxury - Pacific Palisades, CA
Outstanding Agent Referrals-Nationwide

Good news to let our buyers know now is the time to make the move.

Dec 04, 2012 01:52 PM #3
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