The June 2013 report shows that the rate of housing sales increased strongly in May growing 13.5 percent from May 2012. The annual rate of new and existing home sales for May 2013 was 5.984 million up from the 5.273 million recorded in May 2012.
The average price of homes sold increased by 7.5 percent in May 2013 compared to May 2012.
June 11, 2013 – The REAL Trends Housing Market Report showed that the combination of new and existing home sales in May 2013 continued to show strength across all regions in both unit sales and the average price of homes sold. The annualized rate of the combination of new and existing home sales increased to 5.984 million in May 2013 up from the 5.273 million recorded in May 2012.
The average price of homes sold in May 2013 was up 7.5 percent from the average price of homes sold in May 2012 marking the 14th consecutive month of increased home sale prices.
Housing unit sales for May 2013 were up 18.1 percent in the Midwest, the strongest showing in the country. The next highest region was the South region at 16.8 percent, the West region was up 9.0 percent and the Northeast was up 7.0 percent.
The average price of homes sold in May 2013 increased 7.5 percent across the country, nearly the same increase as that recorded a month earlier. The West had the best results with the average price of homes sold increasing 13.2 percent followed by the South region at 8.6 percent and the Midwest at 8.5 percent. The Northeast saw the lowest increase in average price at 2.2 percent.
“May 2013 sales of new and existing homes continued to show strength across all regions and are evidently shaking off the low inventories in most markets. The two regions of the country with the lowest average sales prices, the South and Midwest, continue to outperform other regions in terms of unit sales increases. The average price of homes sold was up solidly again due to supply and demand imbalances. As this report and other housing indicators show the scarcity of inventory and buyer demand are creating a situation where prices are advancing at far greater rates than had been predicted due to high levels of housing affordability and restricted inventory,” said Steve Murray, editor of the REAL Trends Housing Market Report.
REAL Trends Housing Market Report
May 2013 April 2013
Closed Sales AVG Price Closed Sales AVG Price
+13.5% +7.5% +16.2% +7.9%
+7.0% +2.2% +11.8% -0.1%
+16.8% +8.6% +19.0% +5.2%
+18.1% +8.5% +15.3% +15.3%
+9.0% +13.2% +15.3% +15.7%