Dataquick is reporting a 6.3% increase in sale prices and a 10.1% increase in sales volume for May versus May 2011. Versus 3 years ago, the median sale price is up 3.3% and volume is up 10.1%. Prices have now exceeded the 2011 peak reached in July and August and sales volume is virtually at the peak level of last August.
Most of these gains are attributable to a very sharp month to month gain in May. From April 26 to May 31 volume rose by 9.1% and the median sale price rose by 3.4%.
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The data is for sales closed in May, therefore representing contracts mostly signed in March. Recent information reported by a mortgage industry group suggests some cooling of contract activity over the past month. I will have more in depth analysis in the Professional Edition housing update to be posted this evening.
These numbers are not modeled. They are real sales counts and medians from 98 of the top 100 US metros encompassing 66% of US home sales.
For more on housing values, visit the Home Sales Chart page.
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