May/June 2013 Market Pulse

May 29, 2013 | Comments Off on May/June 2013 Market Pulse

Home sales have been hovering at the 4.9 million sales-pace mark since fall of last year and aren’t likely to move up much unless more inventory comes onto the market. As long as markets continue to see inventory shortages, home prices will continue to rise, not a healthy development if household income gains don’t keep up. All trend lines are from March 2012 to March 2013.

Existing-home sales is a seasonally adjusted annual rate, which is the actual rate of sales for the month, multiplied by 12 and adjusted for seasonal sales differences. Pending home sales is an index that measures -housing contract activity. An index of 100 is equal to the level of activity during 2001, the benchmark year. Inventory measures the number of existing homes on the market at the end of the month. Buyer and seller traffic, current conditions, six-month expectations, and time on market derive from a monthly -REALTOR® Confidence Index. Results for March are based on 3,204 responses to 6,000 surveys sent to large and small real estate offices. The survey asks practitioners to indicate whether conditions are strong (100 points), moderate (50), or weak (0). Some data may be revised from previous issues.


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