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Sparse Listings Continue to Drive Home Prices

Tuesday, August 11, 2015

There was an uptick in national existing home sales in the second quarter of 2015 of 6.6 percent the National Association of Realtors® (NAR) said on Tuesday.  The increase in sales coupled with an insufficient supply of homes drove home prices almost universally higher across major metropolitan areas.

The uptick in transactions brought the seasonally adjusted rate of existing home sales to 5.30 million in the second quarter from 4.97 million in the first quarter.  Sales were also 8.5 percent higher than the rate of 4.89 million in the second quarter of 2014.

 

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