With the National Association of Realtors® report last week showing a third consecutive month of increasing home sales in all regions of the country everyone cheered, including Wall Street! The report along with new construction starts has been used to forecast hopes that the housing slump may be reaching an end.
The breakdown of existing home gains by area reported were: Midwest up 0.9%, Northeast up 2.5% and South up 4.0% and West up by 6.4%. The national median existing home price for all types was $181,800 in June, which is below June 2008 by 15.4%. Distressed properties continue to negatively impact the median price as they customarily sell at a lower price than conventional home sales. Total housing inventory at the end of June fell 0.7%, and if the sales volume can continue to increase prices should begin to stabilize.
As I continue to urge, if you are in the market for real estate go ahead and take advantage of good prices, good rates and still good inventory selection. If I may be of service, please call on me! | 
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