“From a regional standpoint, sales were weak in the South and West, down 3.0% and 3.7%, respectively. Sales in the Midwest and North, on the other hand, were up 4.7% and 9.1%, respectively,” noted Sterne Agee chief economist Lindsey Piegza. “Bottom line, demand for housing remains uneven after months of heightened sales activity earlier in 2013. Now against the backdrop of minimal income growth and a still-tepid labor market, demand continues to wane.

“For potential homebuyers, rising prices are eroding affordability, putting further downward pressure on consumer’s ability and willingness to finance a home purchase. From the owner’s perspective however, rising prices are helping to create and maintain a wealth effect, fueling (or at least helping to support) consumer spending,” she said.

A 2011 Gallup poll found that gold was the most popular response, but gold prices dropped significantly after that.

The new poll conducted earlier this month found real estate to be the No. 1 answer among two of three income groups: $75,000 and over and $30,000 to $74,999.

Compared to last year, closed sales were about the same as twelve months ago, with 5,753 completed transactions, just slightly above 5,745 closed sales in 2013.   

In addition, the median price on last month’s sales of single family home and condominiums that sold across the 21 counties in the MLS report grew 6%, rising from the year-ago figure of $258,500 to last month’s price of $274,000.