2012 has become the year of the housing recovery. July home sales are 10.3 percent higher than sales last July, and year-over-year. home sales have now risen for 13 consecutive months. Median home prices have now reached levels higher than the previous year for six months in a row, with an increase of 3.7 percent over July 2011. Inventory is now becoming a serious challenge to this recovering market, with available homes-for-sale falling 26.8 percent lower than the same month last year. Home sales could be greater if more inventory was available, especially in the lower price range, where most sales are now occurring. With increased demand and shrinking inventory, the average Days on Market of homes sold in July was 82. (Source: RE/MAX)