1. "For the fourth month in a row, the RE/MAX National Housing Report
is showing an increasing Median Home Price. In May, home prices were 6.1% higher than those in May 2011. Home sales also rose above the mark set last year by a significant 12. 8%. With 42 surveyed metros showing increases in BOTH sales and prices, the recovery of 2012 appears to be taking hold in all regions of the country
. For 11 months in a row, home sales have exceeded the level of the same month a year ago. Inventory continues to fall significantly lower than the previous year, with a 26.6% drop from May 2011. The related Months Supply and Days on Market figures are also trending lower."
“Clearly, 2012 is the year the housing industry has been waiting for; there’s a broad-based recovery taking hold,” said Margaret Kelly, CEO of RE/MAX, LLC. “This recovery may not bring improvement in all sectors to all markets at the same time, but most markets across the country are experiencing the best selling season they’ve seen in years.”
2. "Sales and prices of existing homes in Wisconsin continued to rebound
in May, another indication that the long-languishing housing market is
on the mend. Home sales jumped 18.9% in May from May 2011, the 11th consecutive
month of a double-digit increase from the same month a year earlier
Wisconsin Realtors Association said Monday. At the same time, the
median home sale price in the state rose 1.5% in May to $138,000. Through May, sales for 2012 are up 20.2% from the same period last year."
"Home builders started work on more single-family homes in May and
requested the most permits to build homes and apartments in three and a
half years. The increase suggests the housing market is slowly recovering
even as other areas of the economy have weakened. The government also
said April was much better
for housing starts than first thought. The government revised up the
April figures to 744,000 — fastest building pace since October 2008.
builders are more optimistic about the next 12 months. They requested
more permits to build homes, a gauge of future construction. Permits
increased to a seasonally adjusted rate of 780,000 — the most since