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National home market update

National market update

Existing-Home Sales Up in June, Unsold Inventory Shows Continued Progress

WASHINGTON (July 22, 2014) – Existing-home sales increased in June and reached an annual pace of 5 million sales for the first time since October 2013, while rising inventory continues to push overall supply towards a more balanced market, according to the National Association of Realtors®. Read more

International Home Buyers Continue to Invest in Profitable U.S. Market, Realtors® Report

WASHINGTON (July 8, 2014) – Favorable exchange rates, affordable home prices and rising affluence abroad continue to drive international buyers to the U.S. to purchase properties and make real estate investments.
Source: NAR
Read more

National housing indicators

Existing home sales (June)

5.04 million units* *

Existing home median price (June)

$223,300

Housing Starts (June)

893,000 *

New home sales (June)

504,000 *

*Seasonally adjusted annual rate. Source: NATIONAL ASSOCIATION OF REALTORS®.

National economic indicators

Home ownership

2nd Qtr 2013

65.0%

2nd Qtr 2014

64.7%

The homeownership rate in the second quarter 2014 was 64.7 percent, down 0.3 (+/- 0.4)* percentage points from the second quarter 2013 rate of 65.0 percent. The homeownership rates in the Northeast and South were lower than the rates in the second quarter 2013, while the rates in the Midwest and West were not statistically different from the rates a year ago.

New home sales

June 14

-8.1%

May 14

+8.3%

Sales of new single-family houses in June 2014 were at a seasonally adjusted annual rate of 406,000. This is 8.1 percent (+/- 12.3%)* below the revised May 2014 estimate of 442,000.

Source: U.S. CENSUS BUREAU

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