Monday, June 11, 2012

May Real Estate Blowout Continues

1. "Home sales in the metro Milwaukee area increased 30.1% in May compared with the same month of 2011, marking 11 consecutive months of homes sales increasing at least 10%.  The May sales numbers join a string of positive data in the residential industry, including a 39.8% increase in the Milwaukee area in April."

2.  According to the Charleston Trident Association of REALTORS, 994 homes sold at a median price of $200,000 in May.  Sales volume last reached this level in June 2010, when the homebuyer tax credit was in place; the last time this happened in a non-incentivized market was August 2007.  May home sales were 24% above the same month last year, and the median home price in May was up by 11% in May year-over-year. 

3. Baltimore-area home sales rose 13% in May, while prices saw a boost of 8%.

That brings the number of metro area markets reporting double-digit sales gains in May to 14, see the full list here.


At 6/12/2012 12:14 AM, Anonymous Anonymous said...

I've been reading a couple articles lately that foreigners have been buying up a lot of homes in the US, largely Canadians (whom I suspect are disproportionately Canadian immigrants from India and China) as well as Mexicans, Chinese and Indians.

Bloomberg article

However, it's refreshing to see a metro area like Milwaukee see double-digit gains, because that's hardly the kind of metro area Chinese, Indians and Mexicans would be flocking to.

At 6/12/2012 12:33 AM, Blogger priya said...

nice post keep updating. we have a Best villas in ECR and flat villas in ECR chennai.

At 6/12/2012 6:03 AM, Blogger geoih said...

What do you call a market that suddenly expandes spectacularly, everywhere, at the same time?

At 6/13/2012 8:39 PM, Blogger VangelV said...

LOL...Shadow inventories are building and the banks and GSEs are waiting until after the election to resume foreclosures. Real gains are still negative and people are excited about real estate. This may not be a bad place for someone who has 20% down to buy a new home in a decent area that has been beaten down but it is a bad time for anyone who is under water and hoping to get out from his/her commitment to the bank.


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