More reports below on strong double-digit gains in home sales for May as high as 32% for Maine, and some increases in median home prices, including a 22% gain in Miami condo prices in May compared to last year.
1. Utah: May sales up 11.8% from May 2011; 12th month in a row that home sales have grown year-over-year. Realtors also say this is the strongest January-to-May sales period since 2007.
1. Utah: May sales up 11.8% from May 2011; 12th month in a row that home sales have grown year-over-year. Realtors also say this is the strongest January-to-May sales period since 2007.
2. Maine: May sales up 32% from May 2011; and median sales price up by 7.4%.
3. Connecticut: May sales up 12.3% from May 2011; median sales price up 2.4%.
4. New Hampshire: May sales up 27.7% from May 2011; median sales price down by 2.4%.
5. Rhode Island: May sales up by 15% from May 2011; median sales price down 7%.
6. Wisconsin: May sales up by 18.9% from May 2011, the 11th consecutive month of a double-digit increase from the same month a year earlier; median sales price up by 1.5%. Through May, sales for 2012 are up 20.2% from the same period last year.
7. Miami: May sales up by 14% from May 2011, median sales price for single family homes up by 6%, condo prices by 22%.
In another positive indicator for the real estate industry, the chart below shows the "S&P Homebuilders SPDR" (XHB), an ETF that replicates the homebuilding portion of the S&P Total Markets Index (blue line), compared to the S&P500 Index (red line) over the last six months. While the overall stock market (S&P 500) has increased by about 5% since January, the ETF of homebuilders' stocks has increased by 20%.
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