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Home Sales Up 9% Year-Over-Year: RE/MAX

Despite falling month-over-month, home sales crept forward by 9 percent year-over-year, according to a recent monthly housing report from ""RE/MAX"":http://www.remax.com/.

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Home sales meanwhile declined 9.8 percent from September to October, even while sales prices fell 5.4 percent year-over-year ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô a bipolar trend that portrays the market as one slowly recovering from the financial crisis.

""It appears that home sales are coming more closely in line with the levels we saw last year, which should hold up

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through the winter months,"" ""Margaret Kelly"":http://www.remax.com/national-corp/biographies/margaret_kelly.aspx, CEO for the company, said in a ""statement"":https://docs.google.com/a/dsnews.com/viewer?a=v&pid=gmail&attid=0.1&thid=133b3d987922efdd&mt=application/pdf&url=https://mail.google.com/mail/?ui%3D2%26ik%3Dbe3741d10e%26view%3Datt%26th%3D133b3d987922efdd%26attid%3D0.1%26disp%3Dsafe%26zw&sig=AHIEtbRG9c6kXTG2ANYXzXUliN8To6NjiQ&pli=1.

""While it's good to see sales still running higher than last year, at some point we would like to see prices rising higher than the previous year, as well,"" she added.

The report found home sales rising for the fourth conservative month on an annual basis, as foreclosures plummeted for the sixteenth consecutive month.

RE/MAX also found home prices sliding by 5.4 percent from October last year. Median sales prices for sold homes hovered at $176,770, some 2 percent lower than figures for the same in September and 5.4 percent lower than those recorded in October last year.

Eleven of the 53 metro areas surveyed by the company saw home prices leaping forward from last year, with Detroit skyrocketing by 11.5 percent, followed by Omaha at 10 percent, Orlando at 6.7 percent, Des Moines at 3.6 percent, and Houston at 2 percent.

RE/MAX reported the average days on market as 95 for home sales, two more than a 93 average witnessed in September and four more than the average seen October.

About Author: Ryan Schuette

Ryan Schuette is a journalist, cartoonist, and social entrepreneur with several years of experience in real-estate news, international reporting, and business management. He currently lives in the Washington, D.C., area, where he freelances for DS News and MReport.
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