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News Release

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Aug. 20, 2013


Since our Aug. 13, 2013 release, NEFAR was made aware of some errors in our previously published July 2013 reports. The errors were due to computation / formula programming issues that affected the July 2013 reports only. Those issues have been corrected and all July 2013 monthly sales information has been recalculated. The corrected reports are now posted on NEFAR.com. We deeply regret the inconvenience that this has caused; particularly for those media outlets that have published data from our reports. Below are some corrected key indicators from the revised July 2013 reports:

~ There were 1,907 closed sales; a 24.8 percent year to date increase and a 24.5 increase over July 2012.
~ The closed sales mix was 1,277 traditional and 630 (33 percent) lender mediated.
~ Pending sales came in at 2,255; a 46.2 percent increase year-over-year.
~ Median sales price was $169,525. This is a 15.4 percent year-to-date increase and a 24.7 increase over July 2012.
~ Percent of properties that sold for more than the listed price was 13.2.
~ There were 3,056 new listings added to inventory during July. This is 42.3 percent higher than a year ago and a 16.6 year to date increase.
~ Inventory of homes dropped 22.8 percent from a year ago to reach 8,590.
~ Months' supply of homes is at 4.6 months; down 39.5 percent from July 2012.

Full statistics are on the Newsroom | Market Stats tab of NEFAR.com.

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