On August 24, 2016, National Association of Realtors (NAR) reported that regional existing home sales in the Northeast fell 13.2% in July of 2016 to an annual rate 660,000 homes from June of 2016, and declined 5.7% from July of 2015. The median price in the Northeast was $284,000 in July of 2016, up 3.3% from July of 2015.
Home sales in the Midwest were lower 5.2% in July of 2016 to an annual rate 1.28 million homes from June of 2016, but similar from July of 2015. The median price in the Midwest was $194,200 in July of 2016, higher 5.0% from July of 2015.
Home sales in the South dropped 1.8% in July of 2016 to an annual rate 2.22 million homes from June of 2016, and down 1.8% from July of 2015. The median price in the South was $214,500 in July of 2016, increased 6.6% from July of 2015.
Home sales in the West were gained 2.5% in July of 2016 to an annual rate 1,23 million homes from June of 2016, but decreased 0.8% from July of 2015. The median price in the West was $346,100 in July of 2016, jumped 6.4% from July of 2015, according to Adam DeSanctis of NAR on August 24, 2016.
Lawrence Yun, NAR chief economist, stated “As a result, sales in all regions are now flat or below a year ago and price growth isn’t slowing to a healthier and sustainable pace.”
For more complete information, on NAR's June of 2016 regional existing home sales report, please CLICK HERE
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