Sales and prices of existing homes, condos and town homes in July continued showing some gains nationally and in Georgia.
July's median sales prices in Georgia were $116,500, up 2.3 percent above July of 2011, and were the fifth straight month of gains.
Sales in Georgia were 7,791, down about 600 from the traditionally strong home buying month in June, but beating July of 2011 sales number by about 450.
Nationally, sales increased in July by 2.3 percent according to the National Association of Realtors.
Lawrence Yun, NAR chief economist, said housing affordability conditions are very good. "Mortgage interest rates have been at record lows this year while rents have been rising at faster rates. Combined, these factors are helping to unleash a pent-up demand," he said.
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