The pace of seasonally adjusted existing-home sales in the U.S. increased 2.3 percent from a downwardly revised 4.37 million in June to a 4.47 million pace in July, up 10.4 percent from the 4.05 million unit pace recorded in July 2011.
Total housing inventory at the end of July increased 1.3 percent to 2.4 million existing homes actively on the market, a 6.4 month supply, down from a 6.6 month supply in July and a 9.3 month supply in July 2011.
The median sale price for existing-homes ticked down 1.1 percent in June to $187,300, up 9.4 percent year-over-year as distressed sales accounted for 24 percent of sales volume, down one point from June and down five points versus July 2011.
Existing-home sales in the west were unchanged from June to July but up 5.9 percent year-over-year with a median sales price that’s up 24.5 percent year-over-year, driven by more sales at the upper end of the market.
∙ Existing-Home Sales Improve in July, Prices Continue to Rise [realtor.org]
∙ Existing U.S. Sales Pace And Supply Slip In June As Median Mixes Up [SocketSite]
∙ Existing U.S. Sales Pace And Supply Slip In May, Median Ticks Up [SocketSite]
∙ Recorded San Francisco Sales Up 27.7% In July (Year-Over-Year) [SocketSite]