This Month in Real Estate

This Month in Real Estate
July 2016 Market Update
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Monthly VideoHome sales in May accelerated for the third consecutive month, reaching levels not seen since early 2007. Strong demand and sustained ultra-low mortgage rates continue to overpower constrained inventory levels and a rising median sales price.
Interest Rates
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Monthly VideoInterest rates decreased slightly from the month prior and remain at historically low levels. Mortgage rates have recently declined due to increased uncertainty surrounding the global economy prompted by the UK voting to leave the European Union.
Home Sales
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Home Sales Graph
The National Association of REALTORS® reported home sales at a seasonally adjusted annual rate of 5.5 million homes during the month of May. This was an increase of 1.8 percent from April, and an increase of 4.5 percent from May of last year.
Home Prices
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Home Price Graph
The median home price reached a record $239,700 in May, which was up 3.8 percent from April and up 4.7 percent from May of last year. The median home price has increased by nearly $11,000 in the past year alone.
Inventory
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Inventory Graph
There was a 4.7-month supply of housing inventory in May, which remained flat from April. The total number of homes for sale decreased by 7.8 percent compared to May of last year to 2.15 million homes nationwide, which was 130,000 fewer listings than May of last year.
Brought to you by KW Research. For additional graphs and details, please see the This Month in Real Estate PowerPoint Report.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.
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Phylis Simoni

Keller Williams Realty Atlanta North

404-456-2683

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simoni@kw.com
kwrealty.com
Copyright 2016 Keller Williams® Realty, Inc. If you have a brokerage relationship with another agency, this is not intended as a solicitation. All information deemed reliable but not guaranteed. Equal Opportunity Housing Provider. Each office is independently owned and operated.

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