Market Update: June Existing Home Sales Show Improvement

The National Association of Realtors’ existing home sales reports showed that home resales increased 2.6 percent from May to June 2014. However, the level of home sales were 4.3 percent lower than the previous June. Quicken Loans Vice President Bill Banfield offered the following comments of the report:

“While lower than a year ago, it was great to see the number of homes on the market increase for the fourth month in a row. Its possible more sellers are stepping up to take advantage of improving home prices. Meanwhile, buyers now have the lowest rates available in the last twelve months and more options from which to choose.”

If you would like to speak to Bill about this or any other topic, please contact us.