August Home Sales Show Double-Digit Gains

Local reports are coming in for August home sales and they're all showing double-digit gains so far from last year, here's a sample:

1. Milwaukee -- Sales of existing homes rose 21% in August in the metro Milwaukee area, extending a string of 14 year-over-year monthly increases that is reducing the inventory of homes on the market. Through the first eight months of 2012, sales were up 27.7%.

2. Baltimore -- Home sales were the highest for the month of August since 2007, with a 17.5% year-over-year increase. Pending sales in August were up 18% versus last year and the average home price increased 3%.

3. Memphis -- Home sales in August were up 21% year over year, representing the eighth consecutive monthly increase from 2011. Inventory is down, days on the market are down, and agents are cautiously optimistic for growth.

4. Birmingham -- August home sales increased 18.4% vs. last year, average price was up 13% and median price by 3%.

5. Nashville -- Home sales increased by 27.3% in August compared to a year ago, and the median price increased by 1.8%.

6. Iowa -- Home sales pushed 15.5% higher to 3,602 in August over a year ago, and the median sale prices climbed 3.8 percent.

7. Denver - August home sales increased 18% above last year, and average prices were up by 10%.

8. North Texas (29 county region) -- Sales of existing homes in North Texas in August were up 18% from a year ago, marking the 12th consecutive month of gains, and eight straight of double-digit increases. The median sales price rose 8 percent to $164,000.

Read more here: http://www.star-telegram.com/2012/09/10/4247329/north-texas-home-sales-up-18-percent.html#storylink=cpy

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