THE NATIONAL REAL ESTATE PICTURE:

THE NATIONAL REAL ESTATE PICTURE:- Keith Kaplan Properties

The June data is in and the National Association of Realtors is reporting that U.S. home resales rose to their fastest pace in more than nine years, with sales of existing homes increasing 1.1% to an annual rate of 5.57 million units.  This is above both forecasts and the May sales pace. 

Low mortgage interest rates and the impact of the Brexit vote may have helped to draw buyers into the market, with 33% percent of sales in June attributed to first-time buyers – the largest share in almost four years according to the NAR.  

Breaking down the data, sales of existing homes jumped 3.8 percent in the Midwest and rose 1.7 percent in the West. Sales were flat in the South and fell 1.3 percent in the Northeast. 

The number of unsold homes on the market in June dropped 0.9 percent to 2.12 million units. Tight inventory continued to drive prices upward with  the median house price rising 4.8 percent from a year ago to a record $247,700 last month.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Keith Kaplan

CalBRE #01933707
Sothebys International Realty
9255 Sunset Blvd.
West Hollywood, CA   90069

keith.kaplan@sothebyshomes.com

310-646-7791

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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