August Housing Market Report

From The REAL Trends Housing Market Report for August 2014 data shows that housing sales decreased 5.2 percent from the same month a year ago. The annual rate of new and existing home sales for August 2014 was 6.002 million units down from a rate of 6.334 million in August 2013.  

Housing prices rose an average of 4.1 percent from August 2013, a slight decrease from the previous month. Price increases have now settled to a mid-single digit growth rate for the past four months.

Housing unit sales for August 2014 decreased 1.4 percent in the South, the best performance in all regions. Midwest unit sales were off 4.4 percent, the Western region saw sales decrease 5.6 percent and the Northeast saw sales units decrease by 13.8 percent.

The average price of homes sold in August 2014 in the Midwest region increased by 6.6 percent the best result in the nation. The Western region saw average prices increase 5.8 percent, average prices in the South were up 5.3 percent and the Northeast had an average price increase of 2.4 percent.