Boston Realtors reported a 13 percent increase in existing home sales in July, a small increase compared to other major metro areas across the country, the Boston Business Journal reported August 18, 2011.
Miami and St. Paul both saw existing home sales increase by more than 30 percent, (Miami 35.6 and St. Paul 32.5 percent), while Kansas City, Phoenix, Philadelphia, and Atlanta all saw increases over 20 percent.
According to the National Association of Realtors (NAR), nationally, the July housing market set a pace for 4.83 million home sales this year, an increase of 21 percent from the 3.86 million sales in July 2010.
The NAR also stated that Boston’s median home price fell 1.1 percent in July, from $385,000 in July 2010 to $381,000 in July 2011. The national median price also fell, dropping from $183,000 in July 2010 to $174,900 this past July.