RISMedia, June 17, 2011— Home sales and prices were both nearly the same as April in the May 2011 RE/MAX National Housing Report when compared to the same time last year. The month-to-month price change has seen a three month trend to the upside, up 3.7% in May, with closed transactions rising 3.3% higher in May over April. Monthly increases could suggest that the market hit bottom just after the first of the year. Positive month-to-month data point to an improving, though uneven, market recovery. Financing requirements, poor appraisals, unemployment and uncertainty now seem to be holding the market back.
“Home sales activity appears to be coming back in line with the seasonal trends we would expect to see this time of year,” says RE/MAX CEO Margaret Kelly. “It’s a very good sign that prices are starting to rise on a monthly basis. This may indicate that we’ve turned the corner and are headed in a positive direction.”
The above is an excerpt from the monthly RE/MAX National Housing Report. For more information or to see the full two-page report, contact (303) 796-3667.
Copyright© 2013 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission from RISMedia.
Content on this website is copyrighted and may not be redistributed without express written permission from RISMedia. Access to RISMedia archives and thousands of articles like this, as well as consumer real estate videos, are available through RISMedia's REsource Licensed Content Solutions. Offering the industry’s most comprehensive and affordable content packages. Click here to learn more! http://resource.rismedia.com