Thursday, July 2, 2009

May Home Sales Rise on the National Level

In an article from NAR, homes sales rose on the national market for the month of May. Bloomington continued its recent trend of slightly fewer home sales but increased sales prices. Here are some statistics for Bloomington comparing May 2008 with May 2009:
  • Total number of sales for May 2009: 144
  • Total number of sales for May 2008: 160
  • Average sales price for May 2009: $179,314
  • Average sales price for May 2008: $164,174

This shows a 10% decrease in the number of sales but a strong 9.22% increase in average sales price making Bloomington's real estate market very healthy.

Here's the article from NAR:

Sales of existing homes showed another gain in May, benefiting from favorable affordability conditions and a first-time buyer tax credit, according to the National Association of Realtors®. May’s increase was the first back-to-back monthly gain since September 2005.

Existing-home sales – including single-family, townhomes, condominiums and co-ops – rose 2.4 percent to a seasonally adjusted annual rate1 of 4.77 million units in May from a downwardly revised level of 4.66 million units in April, but remained 3.6 percent below the 4.95 million-unit pace in May 2008.

Existing-home sales for June will be released July 23. The next Pending Home Sales Index & Forecast is scheduled for July 1; release times are 10 a.m. EDT.

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