The May 2013 report shows that the rate of housing sales increased strongly in April growing 16.2 percent from April 2012. The annual rate of new and existing home sales for April 2013 was 5.731 million up from the 4.932 million recorded in April 2012. These are the strongest year over year results this year.
The average price of homes sold increased by 7.9 percent in April 2013 compared to April 2012.
May 13, 2013 – The REAL Trends Housing Market Report showed that the combination of new and existing home sales in April 2013 strengthened from the prior year and at a faster pace than in prior months. The annualized rate of the combination of new and existing home sales increased to 5.731 million in April 2013 up from the 4.932 million recorded in April 2012.
The average price of homes sold in April 2013 was up 7.9 percent from the average price of homes sold in April 2012 marking the 13th consecutive month of increased home sale prices.
Housing unit sales for April 2013 were up 19.0 percent in the South, the strongest showing in the country. The next highest region was the Midwest and West regions where unit sales were up 15.3 percent. The Northeast was up 11.8 percent.
The average price of homes sold in April 2013 increased 7.9 percent across the country, a better showing than in the prior month. The West had the best results with the average price of homes sold increasing 15.7 percent followed by the Midwest region at 8.5 percent. The South region showed an increase of 5.2 percent while the Northeast lagged with the average price of homes sold decreasing by 0.1 percent.
“April 2013 sales of new and existing homes increased at the fastest pace in several months evidently shaking off the impact of shrinking inventories. 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
April 2013 March 2013
Closed Sales AVG Price Closed Sales AVG Price
+16.2% +7.9% +7.4% +6.9%
+11.8% -0.1% +3.5% -4.2%
+19.0% +5.2% +11.9% +8.2%
+15.3% +8.5% +12.0% +7.2%
+15.3% +15.7% -0.4% +16.3%