August home sales increased 5.8% over a year ago, reversing July’s decline of 8.8%. At the same time, the median price climbed 5.1% as steady monthly increases continued. August sales were up year-over-year in 41 of the 53 U.S. metro areas analyzed in the RE/MAX National Housing Report. Twelve metro areas posted double-digit increases, including major markets along the east coast from Washington, DC to Charlotte, NC. So far in 2016, seven of the eight months have seen year-over-year sales increases nationally.
“August’s nearly 6% sales increase over last year is providing a strong finish for the summer home selling and buying season. While July saw a decline, August built upon the trends in the spring and early summer. Coupled with moderating price increases, the sales growth we’re seeing represents a market that’s very sustainable,”┬ásaid Dave Liniger, RE/MAX CEO, Chairman of the Board and Co-Founder.

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