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Housing Trend Report Tracks Gains in List Prices, Inventories

""Realtor.com"":http://www.realtor.com/ released its National Housing Trend Report for the month of June 2013, revealing significant gains in several major market indicators.

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Statistics showed a significant jump in both year-over-year median list prices and month-over-month inventories in pivotal California markets (with raises of over 20 percent and over 40 percent respectively).

Also seeing an increase was the nation's median list price, presenting as 5.27 percent higher than just one year ago. National median age of inventory likewise rose by just one day (at the 80 day mark) in June, versus at 79 days in May 2013.

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Across the country, June's inventories were 4.26 percent more than those in May 2013, with median list prices 0.45 percent higher. Although a positive and steady six-month stint of month-over-month growth has been seen, inventories overall remain in a rut, down by 7.29 percent on a year-over-year scale.

""Inventories on realtor.com reached their highest level in June since the beginning of 2013. We're seeing increases as high as 51 percent month-over-month in many southern California markets,"" said Steve Berkowitz, CEO of Move, Inc., which operates Realtor.com.

""Sellers are continuing to list homes at a steady pace into late June, which moves us past the traditional home buying season, as mortgage interest rates continue to rise. These are all signs that the market recovery is continuing at a healthy pace,"" Berkowitz added.

National data shows that the total number of single-family units for sale in the country rose by 4.26 percent month-over-month. On a yearly basis, the month's inventory dropped by 7.29 percent. June's median list price ($199,900) increased by 0.45 percent over the month and 5.27 percent year-over-year. The median age of inventory of for-sale listings (80 days) dropped roughly 15.79 percent versus last year, yet was up 1.27 percent month-over-month.

About Author: Andy Miller

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