The housing market is on the RISE!
Posted by Schuler Bauer on Wednesday, July 24, 2013 at 4:38 PM
By Schuler Bauer / July 24, 2013
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Sales of previously owned homes rose by 15.2% in June from one year ago to a seasonally adjusted annual rate of 5.08 million, but they were down by 1.2% from one month ago, according to the National Association of Realtors.
Monday’s report showed that the housing market may be slowly returning to equilibrium after a year in which demand has outstripped supply, pushing up prices. At the current pace of sales, there was a five-month supply of homes in June on a seasonally adjusted basis, up from the 4.9-month supply in May but down from the 6.1-month supply a year earlier.
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