Closings, contracts on the rise in first week of August, data show
MRED’s Weekly Market Snapshot showed market strength in a time when the real estate selling season usually begins winding down. The data from across MRED’s markets showed:
- Sales in the first week of August were up 26 percent on an annual basis.
- Contracts, often seen as a forward-looking indicator of how the market might perform, soared 66 percent over last year’s numbers.
- Median home prices rose 7.2 percent from the same week last year. Median prices have increased year over year for eight weeks in a row.
Learn more about the real estate industry with the Weekly Market Snapshot, released each Tuesday. Click here to view the report.