During the month of July, closed sales of houses in the Lehigh Valley decreased 10.6 percent, the seventh straight month for a decrease.

That's despite a pending sales increase of 14.4 percent in July, compared to last year at the same time. Pending sales reflect homes that are under contract but have not yet closed.

Closed sales for July were 656, down from 734 in closed sales for July 2013.

The statistics are based on information provided by the Lehigh Valley Association of Realtors (LVAR).

LVAR officials attribute the decline in closed sales to extreme 2013-'14 Lehigh Valley weather conditions, delaying the start of a typically strong spring market.

During the month of July, new listings increased 2.3 percent to 1,191, compared to 1,164 for July 2013.

Inventory levels grew 3.2 percent to 4,298 units.

"The continued increase of new listings, from the same time last year and over the last several months, has proved to be a continuing trend that is increasing the amount of housing inventory from which buyers may choose," said Ryan Conrad, CEO of LVAR.

Days on market was down 9 percent to 61 days in July, compared to 67 days in July 2013.

Absorption rates improved as months' supply of inventory was down 1.3 percent to 7.7 months. Inventory of four to seven months is typically regarded as constituting a balanced real estate market.

"Homes are selling quicker, averaging 61 days on the market, in many cases causing multiple bid situations with buyers being forced to act more quickly when they see a home they like," Conrad said.

"The increase in new listings, inventory levels and pending sales proves the Lehigh Valley real estate market continues to grow healthier and stronger, for both buyers and sellers," according to Conrad.

Year-to-date, the median sales price remained the same at $169,000. The median sales price reflects the median point at which half of the sales sold for more and half sold for less, not accounting for seller concessions, in a given month.

The average sales price for July was $189,900, a 2.6 percent increase compared to July 2013.

"The increase in home prices may be encouraging people who were waiting to sell their homes to put them on the market, something that is currently being reflected in the increase in new listings and pending sales," said Kim Lucas-Mantz, President of LVAR.

Lehigh Valley closed sales of houses in June decreased 9.3 percent to 627, compared to 691 in June 2013.

Closed sales of houses in May decreased 7.9 percent to 2,145, compared to 2,328 in May 2013.

Closed sales of houses in April decreased 11.3 percent to 1,524, compared to 1,719 in April 2013.

Closed sales of houses in March decreased 15.2 percent to 407 houses, compared to 480 in March 2013.

Closed sales of houses in February decreased 10 percent, compared to February 2013.

Closed sales of houses in January decreased 3.1 percent, compared to January 2013.

The seven-month decrease in closed sales of houses contrasts with month-to-month closed sales percentage increases and last year's overall yearly increases.

Closed sales of houses for 2013 were 15.5 percent higher than 2012 and 32 percent higher than in 2011.

Closed sales of houses data includes that for single-family homes, townhomes and condominiums.

LVAR collects data from its Multiple Listing Service used by more than 2,000 Realtor members.

LVAR is a not-for-profit trade association providing professional development and training resources, competitive market information, legislative advocacy, a peer review and mediation process for members, and a dispute resolution service for consumers.

LVAR owns and operates the Lehigh Valley Multiple Listing Service, the Lehigh Valley Real Estate Academy and is publisher of Lehigh Valley Real Estate Weekly.