Data from realtor.com’s® July National Housing Trend Report revealed that this year’s spring selling season ended with price and inventory increases nationwide. Comparing July data for 2012, 2013 and 2014, realtor.com Chief Economist, Jonathan Smoke, stated, “This year, we’re ending the traditional season with high buyer and seller confidence demonstrated by price appreciation, increases in inventory and quick home sales.”
Total listings over the past 3 years have shown a steady increase. In July 2012, total listings were down 14.1% from the prior year while July 2013 total listings were down only 6.4% compared to 2012. This year’s total listings are up by 2.3% over July 2013.
Median list prices have also seen a similar trend. In July 2012, median list prices remained unchanged from the year before. But, in July 2013, median list prices rose by 5.3% over July 2012 and, in July 2014, median list prices rose again by 7.5% over July 2013.
The median age of inventory in July 2014 was 82 days, representing a 3.5% decline from July 2013 when the median age of inventory was 85 days. In fact, the median age of inventory in July 2013 dropped by 16.7% compared to July 2012 when homes were on the market a median rate of 102 days.
To see month-over-month changes reflected in the July National Housing Trend Report, visit http://bit.ly/1oesTkL.