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July 10th, 2008 11:46 AM by David W. Welch
The numbers are in, and they are looking up with 1,443 closed sales which is up from May's 1,347. The median price is also up over May at $217,500 compared to $211,400. Unfortunately, interest rates are up as well with an average rate of 6.35% compared to 5.94% in May. The inventory of homes available for sale and the months of supply both went down. The inventory stands at 24,575 which is a decline of 440 properties. The months of inventory supply is down to 17.03 months which is a decline from May's 18.57.
I will have the full Market Pulse posted to www.DavidWelch.com later today.