Major US cities are reporting their first gains in monthly home prices in nearly three years, according to a recent report from the Wall Street Journal. Home prices in 15 of the 20 metropolitan areas studied were up, or remained stable, suggesting evidence that the slowdown could be easing.
The National Association of REALTORS® (NAR) also reported increased sales of new and existing homes through the month of June. Existing home sales – including single-family, townhomes, condominiums, and co-ops – increased 3.6 percent in June. Analysts are projecting an increase in 2009 existing home sales to a seasonally adjusted annual rate of 4.89 million units.
“The increase in existing-home sales occurred in all major regions of the country,” said Lawrence Yun, chief NAR economist. “We expect a gradual uptrend in sales to continue due to tax credit incentives and historically high affordability conditions.”
Anne Arundel County figures for July 2009 are shown below.
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Source: Metropolitan Regional Information Systems, Inc. – MLS Resale Data
Information is deemed reliable, but is not guaranteed.
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