Some economy observers are pointing to 2018 as the final period in a long string of sentences touting several happy years of buyer demand and sales excitement for the housing industry. Although residential real estate should continue along a mostly positive line for the rest of the year, rising prices and interest rates coupled with salary stagnation and a generational trend toward home purchase delay or even disinterest could create an environment of declining sales.
New Listings were up 1.6 percent to 441. Pending Sales increased 31.5 percent to 338, the eighth consecutive month of year-over-year gains. Inventory shrank 0.5 percent to 2,253 units.
Prices moved higher as Median Sales Price was up 6.1 percent to $312,990. Days on Market decreased