The Jeff Adams Real Estate USA Housing Market Report June 2014 shows that housing sales declined by 1.8 % from the same month last year, an improvement over the decline of 6.1 % year over year in April 2014. The yearly rate of new and accessible home sales for May 2014 was 5.866 million units down from a rate of 5.973 million in May 2013.
Still though home sales decreased on a year over year basis, the average price of homes sold continued to increase with prices up 7.0 % in May 2014 compared to May 2013, another burly showing.
The Home unit sales for May 2014 increased 1.9 % in the South, the greatest performance in all regions. The Midwest saw sales units decrease 2.1 %, in the Northeast sales declined 5.0 % and the West region saw a decrease of 5.4 %.
The average price of homes sold in May 2014 increased 7.0 % across the country, a strong showing despite the across the board refuse in home sales. The West region had the best consequences with the average price of homes sold increasing 12.6 % followed by the South region where prices were up 6.9 %. The Midwest saw an increase of 6.0 % and the Northeast had the smallest increase at 2.5 %.
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