Home sales in July rose 11.3% from a year earlier, as lenders appear to be loosening access to credit, according to Re/Max.
The median sales price of all homes rose 6.4% to $215,000, according to the Re/Max National Housing Report.
In 52 of the 53 metro areas surveyed by Re/Max, the number of sales in July increased. Several experienced double-digit increases, including Richmond, Va., and Manchester, N.H.
"Credit accessibility does appear to be loosening up, bringing homeownership back within the reach of many more Americans," Dave Liniger, Re/Max's chairman and chief executive, said in a news release.
The average number of days on the market for July fell 3 days to an average of 57 days. The number of homes for sale fell 11.9%.
