On a year-to-year basis, monthly home sales and median home prices have now gained for 19th months in a row, according to Re/Max.
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The former rose 6.5% in August compared to the same month a year ago, and the median price of $188,450 represents a 12.9% increase during that period.
However, the median August price is down from $189,950 in
The survey of multiple listing service data in 52 metropolitan areas also found that the rate of inventory decline slowed to 17.4% in August from 20.7% in July.
“At the current rate of home sales, the number of months required to move the entire inventory was 4.4, still below the six month supply recognized as a market balanced between buyers and sellers,” Re/Max said in its monthly report.
