According to the June RE/MAX National Housing Report, home sales in May were greater than in any other May since the report began in 2008. This spring has now experienced a four-month trend in which sales were higher than both the previous month and the same month in the previous year. Completed transactions in May were 8.9% higher than in April and 3.5% higher than in May 2014. The Median Sales Price of a home sold in May was $212,910, which was 7.8% above the price seen in May 2014. The inventory of homes for sale also continued a positive trend, with a 0.4% increase from April’s inventory. With a growing rate of home sales, the resulting Months Supply of Inventory in May was 3.6 on a scale where 6.0 months indicates a market balanced equally between buyers and sellers.
Read the complete June RE/MAX National Housing Report.