The National Association of Realtors reports that Existing Home Sales increase in July for all regions except the West, where they are suffering inventory shortages for the lower price ranges.
Total existing-home sales1, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, grew 2.3 percent to a seasonally adjusted annual rate of 4.47 million in July from 4.37 million in June, and are 10.4 percent above the 4.05 million-unit pace in July 2011.
That’s really great if there was a National Housing Market… The data does not break it down by Metro or State, but they do break it down by Region.
The Midwest Region shows an increase in all price ranges, from 8.3% to 29.7% increase from July 2011 to July 2012. (shown in dark blue in chart below compared to other regions.) (average of approx 18%)
As we would expect, a large portion of the volume of sales was in the lower price points across the US, with 64% of the sale under $250,000.