The median price of a home sold in June was $193,750, up 12.6% from the same month last year, according to the Re/Max Housing Report. This makes 17 consecutive months of year-over-year increases in home prices, as well as home sales.
The report, which looks at MLS data in 52 markets, found that sales were up 4.1% this June versus last.
In addition, Re/Max said that over 800,000 homeowners regained positive equity, as prices increased in large part because of the inventory shortage. The survey found the number of homes for sale in June was 23.9% lower than in the same month in 2012.
Of the 52 markets, only Albuquerque, N.M., reported a year-over-year price decline, down 4.2%. Detroit had the largest gain, up 47.9%, followed by Atlanta, up 42.9%, and Las Vegas, up 33.3%.
Meanwhile, 31 markets reported increased sales, with Albuquerque leading the pack up 42.9% and Providence, R.I., up 25.3%.
In May,
