Gary Keller’s Mid-Year Market Update

Home prices are on the Upswing. The annual pace of home sales in July was 17.2 percent higher than it was last year, putting the industry on pace for the best year in home sales since 2006.

The monthly median home price in July was $213,500 up 25.1 percent from January to July 2013. For 2013, the average median price YTD for 2013 was $198K. Though home prices have been increasing year-over-year for 17 consecutive months, that number still sits below the long-term 4 percent trend line.

Translation? There is still time to recover. Distressed properties are also impacting the uptick in home prices, namely the absence of them.

David Demangos
 858.232.8410 
www.DemangosHomes.com
San Diego Real Estate Expert
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