Home sales remain strong and are up year-over-year.
Home prices continue to increase year-over-year.
| Mortgage Type | Rate |
| 1-Year Mortgage | 3.14% |
| 3-Year Mortgage | 3.39% |
| 5-Year Mortgage | 4.64% |
| Historical average | 9.78% |
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The median home price was $503,301 in June, which was a decrease of 1.2 percent from May and an 11.1 percent increase from June of last year. The median home price has increased by approximately $50,409 in the past year.
A seasonally adjusted 45,456 homes were sold in June, which was down 0.9 percent from May and up 6.2 percent from the previous year. Currently, 2016 is outpacing 2015 by approximately 25,616 home sales.
The sales-to-new-listings ratio rose to 63.3 percent in June, and a seasonally adjusted 71,793 new listings came on the market. This ratio could indicate a seller?s market in the majority of regions.
The opinions expressed in This Month in Real Estate are intended to supplement opinions on real estate expressed by local and national media, local real estate agents and other expert sources. You should not treat any opinion expressed on This Month in Real Estate as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of opinion. Keller Williams Realty, Inc., does not guarantee and is not responsible for the accuracy or completeness of information, and provides said information without warranties of any kind. All information presented herein is intended and should be used for educational purposes only. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. All investments involve some degree of risk. Keller Williams Realty, Inc., will not be liable for any loss or damage caused by your reliance on information contained in This Month in Real Estate.
