August of 2012 proved to yet again be a formidable one across
the United States as both pending home sales and average home
prices were up. It was only a few days ago when in our blog we
reported that for Massachusetts in particular, the median price for
a single-family home in August of 2012 increased
from August of 2011 by 1.6% up to $310,000. The nation showed a
much better improvement by a staggering 9% although home prices
were far less than the Bay States at just $187,400.
Showing just how strong August was, even when compared to July
of 2012 home sales across the country were up by 8% and this is
something that the Chief Economist at NAR, Lawrence Yun has taken
notice of. More buyers are taking advantage of excellent housing
affordability conditions. Inventories in many parts of the country
are broadly balanced, favoring neither sellers nor buyers. There
are far more normal sales as opposed to distressed property sales
that have been more frequent in recent years. This, as well as
appreciation and an increase in repeat sales have all indeed also
been strong influences on the climbing of home prices upon a
sale.
To view Yuns press conference about Augusts 2012 sales numbers,
it is highly encouraged that you view the link at the base of this
post.
More Information: Realtor.org