Transactions – Year-Over-Year Change

Closed transactions for June increased 2.1% from May and 5.0% from June last year. The figures make June the 12 month that transactions have been higher than the same month in the previous year and the fifth time transactions have increased over the previous month. Favorable market conditions are attracting both sellers and buyers, as well as investors, says the report. Of the 53 metro areas surveyed, 40 saw higher sales than one year ago.

Days on Market – Average of 53 Metro Areas

The average Days on Market for homes sold during the month of June was 84, representing a significant drop of eight days from May and six days below June 2011. June represents the first month since September 2011 with a Days on Market below 90 and the lowest average since August 2010. A falling Days on Market average is due to the low inventory that many markets are experiencing, says the report.

Months Supply of Inventory – Average of 54 Metro Areas

The inventory of homes for sale fell 5% from May and 27.4% from inventory levels seen in June 2011. Month-to-month inventories have now fallen for 24 consecutive months. A diminishing inventory is helping home prices rise. Given the current rate of sales, the average Months Supply is now 5.0, about two months lower than the 6.9 average for June last year.

*Source for charts: RE/MAX

Instant Insights /

Sales, Price Numbers Indicate Housing Recovery Gaining Momentum

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