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RE/MAX: Prices Show Housing Recovery Is ‘Real’

Rising home prices and sales signal that the housing recovery may finally be underway, according to ""RE/MAX"":http://www.remax.com/.

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The real estate company released a housing report Tuesday that found closed transactions up 2.1 percent from May and 5 percent from June year-over-year. These figures made June the twelfth straight month for higher transactions.

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Of 53 metro areas surveyed by the company, 31 offered up increases for both sales and prices.

Available homes for sale fell 5 percent from May and 27.4 percent from June last year.

The average days on market for a home fell lowest to its lowest point in June since August 2010.

Forty metro areas that made the list saw higher sales than one year before.

These included Fargo (37.1 percent), Providence (29.5 percent), Burlington (27.5 percent), Manchester (27.2 percent), Augusta (25.2 percent), and Chicago (22.1 percent).

""Although the housing market has a long way to go to make a full recovery, all signs now show that it's on the right path and has improved every month so far this year,"" ""Margaret Kelly"":http://www.remax.com/national-corp/biographies/margaret_kelly.aspx, CEO of RE/MAX, LLC, said in a statement.

""This selling season is the best in years, and those who thought that the positive trends would quickly correct have been proven wrong, because many consumers again feel comfortable buying or selling a home,"" she added.

About Author: Ryan Schuette

Ryan Schuette is a journalist, cartoonist, and social entrepreneur with several years of experience in real-estate news, international reporting, and business management. He currently lives in the Washington, D.C., area, where he freelances for DS News and MReport.
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