Housing sales have gone up in the month of June. They went up by 5.3% in comparison to sales in May. However, sales are down 12% from last year during the month of June. Most of the homes that were sold were also foreclosures. These homes sold for less than market value and lenders discounted them in order to sell quickly.

Home sales increased almost 5% in the west coast area of the country. California tends to be rebounding according to experts. Sales are picking up and leveling off the inventory. In the south, housing sales increased as well by almost 10%. When taking a look at the northeast region, sales increased by almost 4% and in the Midwest it increased by a little more than 1%.

Experts predict home sales to continue to increase to 5.51 million come next year and by the end of this year they predict homes will finish selling at 5.15 million. New home prices are predicted to fall another 9%, however. If the home sold for $510,000 for example then the price could fall to $465,000.

As homes continue to sell and prices continue to fall eventually things will balance out. The more homes that continue to sell the more the prices will eventually begin to rise again. As long as there isn’t a neighborhood filled with foreclosures and homes being left vacant for a long length of time then the pricing for housing will go up.