The 5 percent monthly gain is the largest in more than three years, since a 6.1 percent increase was recorded in March 2004.
The increase occured in all four major regions of the US:
- West: the PHSI increased 8.6 percent in June to 103.6, but was 5.5 percent below a year ago.
- Northeast: the index rose 3.1 percent from May to 96, which is 2.4 percent lower than June 2006.
- South: the index increased 4.7 percent in June to 111.6, but was 12.7 percent below a year ago.
- Midwest: the PHSI rose 3.5 percent in June to 92.5, which is 8.2 percent lower than June 2006.
© Copyright, 2007, by the NATIONAL ASSOCIATION OF REALTORS®