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In both our region here in the South and the Midwest, June 2010 housing units rose 8.5% over June 2009. The highest increase is in the Northeast which rose 28.3% over June 2009, the strongesat results for any region for the sixth consecutive month.
The increase in housing sales for the 10th month in a row where housing sales for the present month were above the same month from the prior year; and price increases just hit their 7th month in a row on the same basis. Housing sales for the entire year are expected to be above the level of 2009 in the range of 4-7% even with a decline in this year's second half. Home prices will continue to strengthen for at least the next three months but may level out thereafter. The upper price end of most housing markets remains soft at this time with no significant recovery in sight at this time.
Below are charts with more information graphs showing Home Sale trends including Housing Inventory, Mortgage Rates and Affordability nationwide:
In my post to come I will give you an update of the local housing sale statistics.
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