Residential contracts strengthen; data point to strong summer market
MRED’s Weekly Market Snapshot shows that homes under contract increased for the third week in a row, surging 17 percent from the first week of July. The data from across MRED’s markets also show a 66.5 percent increase in contracts for the week ending July 27 versus the same week last year.
Median prices continue to show strength as well, with a 6.7 percent increase over the same week last year. This was the sixth straight week of year over year weekly median price gains, the data show.
Learn more about the real estate industry with the Weekly Market Snapshot, released each Tuesday. Click here to view the report.