This Month In Real Estate- September 2014
Median home prices flattened in July, increasing only 0.4% to $222,900. This is up 4.9% from last year, continuing the summer's pattern of sustainable increases in home prices.
The pace of home sales rose 2.2% in July to a seasonally adjusted annual pace of 5.15 million homes. This is down 4.5% from the same month of the previous year; however, the portion of sales that were distressed is down to 9% from 15% last year. This means that conventional sales are likely higher than in July of last year, and this is also the first time the portion of distressed sales have been below 10% since NAR began tracking them in 2008.