June Home Sales and Prices Best Yet in 2015

The number of June home sales was the highest of any month since the RE/MAX National Housing Report began in 2008. This year’s home sales have now experienced a five-month trend in which sales have been higher than both the previous month and the same month in the previous year. Completed transactions in June were 14.3 percent higher than in May and 12.0 percent higher than in June 2014.

“Despite a lingering low inventory and increasing prices, consumers still have the confidence to purchase a home. More and more people recognize the many opportunities in this market and the significant value of low interest rates. As job creation and wages continue to improve, many more first-time buyers are now making the decision to become homeowners.” Dave Liniger, RE/MAX CEO, Chairman of the Board and Co-Founder

The Median Sales Price of a home sold in June was $224,671, which was 7.4 percent above the price seen in June 2014. The inventory of homes for sale also continued a positive trend, with a 0.8 percent increase over the inventory in May. With a growing rate of home sales, the resulting Months Supply of inventory in June still favors sellers at 3.6 on a scale where 6.0 months indicates a market balanced equally between buyers and sellers.

To read the full National Housing Report from RE/MAX click here. If you or someone you know is interested in learning what your home values are in today’s market, please contact Nate today. 

Nate Martinez, RE/MAX Professionals

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