Low interest rates and improving job market kept buyer demand high, but shortage of homes for sale resulted in a drop of closed sales in June 2014. Prices continued to move up because demand for available homes to buy outpaced supply.
Closed sales were up +5.7% Median prices were up +13.3% Inventory of Homes for Sale were down -23.6% Months Supply of Home for Sale were down -26.3% Days on market until sale were down -24.3% Percentage of original list price received were up +1.5% New Listings were up +0.3%
Only real estate professionals who are members of NATIONAL ASSOCIATION OF REALTORS® may call themselves REALTORS®. All REALTORS® must subscribe to NAR’s strict code of ethics, which is based on honesty, professionalism and the protection of the public.
