The latest figures from NAR show that sales of existing homes (single-family houses, condos/co-ops, and townhomes) were up 15.2 percent in June from the year before.
Meanwhile, inventory was down 7.6 percent from a year ago, while median nationwide prices were up 13.5 percent from June 2012. (That’s 16 consecutive months of year-over-year price increases, btw.)
NAR’s headline, for some reason, focuses on month-to-month numbers for sales, but year-to-year numbers for prices. Go figure.