Team Price > Search > Market Statistics > June 2013

Published July 26, 2013 / Team Price Real Estate

As potentially the brightest sun in the current economic recovery, housing activity has followed the mercury higher this summer. Interest rates and new construction activity have been in the spotlight lately, fueled by concerns over tapering Federal Reserve activity and ongoing inventory constraints. Watch for indications that more homes are selling in less time and at higher price points. Also watch for sellers returning to an inviting marketplace, which will help replenish neighborhoods with new listings. 

Prices turned higher.

  • The Median Sales Price increased 7.4 percent to $229,900.
  • Days on Market was down 35.7 percent to 35 days.
  • Absorption rates improved as Months Supply of Inventory was down 40.5 percent to 2.9 months.

Detailed Market Report (PDF)

The economy – which generates the jobs that fuel housing demand – continued to improve at a moderate pace during the second quarter of 2013. Budget sequesters and sluggish export growth have taken a back seat to housing recovery and stronger consumer spending. Interest rates could flirt with 4.0 or 4.25 percent again but the days of 3.3 percent interest are likely behind us.

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