July existing-home sales in the western states were 13.2% greater than a year ago and 6.6% greater than June accordingly to data from the National Association of Realtors (NAR). With housing inventory still tight in the region, the median price rose to $287,500, a 19.2% increase over July 2012.
Nationally, existing-home “sales have remained above year-ago levels for 25 months.” Existing-home sales in July rose by 17.2% compared to a year ago and were 6.5% greater than in June. Housing inventory across the country reached a 5.1-month supply in July, representing a 5.6% increase over June, but was 5.0% lower than a year ago. “The national median existing-home price for all housing types was $213,500 in July, which is 13.7 percent above July 2012. This marks 17 consecutive months of year-over-year price increases, which last occurred from January 2005 to May 2006.” http://bit.ly/1d2ZKJJ