What a peculiar year it's been. At the start, in January and February, it looked like sales were going to drop right off the map, with transactions being down around 50% compared to the previous year.
But that was short-lived.
Following in record-breaking June's footsteps (up 26%), July has similarly set the all-time record for resales in July with 9.967 homes sold - up a whopping 28% over last July! The average price was up 6% to $395,414.
Homeowners are clearly feeling confident about the combination of an economic recovery and record-low interest rates to jump back into the real estate market with gusto.
Instead of the usual summer-slowdown in real estate sales, they've turned into the busiest months so far this year!
As a matter of fact, despite the steep drop-off in sales to start the year, total sales year-to-date are only down a mere 1.2% from last year!
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