Home Sales

Home sale

Yesterday, the latest Standard & Poor’s/Case-Shiller index was released. This index showed that of the 20 major US cities tracked in this index, 19 of them showed home prices increases in April as compared to the March prices. National home prices showed an increase of 1.3% in April, this was the first increase in seven months!

Home Sales

Today, the national Association of Realtors released its report on sales of previously owned homes. This resale home report showed that resale home agreements  in May increased to a level not seen in over two years! Now, it should be remembered that it takes about 60 days to close a sale from the time agreement is reached. So, this means that unless there is a large amount of sales fallout, we should see a nice increase in closed sales (and higher prices) in the July or August figures.

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