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Real Estate Market Reports

Found 25 blog entries about Real Estate Market Reports.

For much of the country, the first quarter of 2019 provided several disruptive weather patterns that contributed to less foot traffic toward potential home sales. Coupled with low affordability, higher prices and an inventory situation in its infancy of recovering from record lows – not to mention several more days of wintry weather in April – slower sales persisted across most residential real estate markets.

2019 Market Reports


However, buyers are beginning to return in force this spring. For well-priced homes in desirable locations, competition is fierce. New Listings were down 1.6 percent to 662. Pending Sales increased 7.3 percent to 588. Inventory grew 4.8 percent to 2,403 units. Prices moved higher as Median Sales Price was up 2.4 percent to $319,250. Days on

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March 2019 Market Reports

In addition to the quandary of ongoing housing price increases and affordability concerns in many U.S. markets, the first quarter of 2019 saw a fair share of adverse weather as well. Sales totals were mixed across the nation and sometimes dependent on what was a persistent wintry mix, especially in the Great Plains, Midwest and Northeast. Meanwhile, new listings and total homes for sale have been trending lower in year-over-year comparisons in many areas, and last year's marks were already quite low.

New Listings were down 3.4 percent to 748. Pending Sales decreased 2.3 percent to 553. Inventory grew 7.4 percent to 2,433 units.

Prices moved higher as Median Sales Price was up 8.7 percent to $325,000. Days on Market increased 0.7 percent to 139

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February 2019 Market Reports

It is worthwhile to mention the weather when discussing residential real estate for large portions of the U.S. for February 2019, because this month has turned in some impressively cold, rainy and snowy days that have stalled some buying and selling actions. Nevertheless, housing markets have proven to be resilient despite predictions of a tougher year for the industry. It is still too early to say how the entire year will play out, but economic fundamentals remain positive.

New Listings were up 2.3 percent to 665. Pending Sales increased 26.2 percent to 515. Inventory grew 5.5 percent to 2,298 units.  Prices were still soft as Median Sales Price was down 2.3 percent to $299,150. Days on Market decreased 8.3 percent to 132 days. Months Supply of

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January 2019 Market Reports

Despite a strong U.S. economy, historically low unemployment and steady wage growth, home sales began to slow across the nation late last year. Blame was given to a combination of high prices and a steady stream of interest rate hikes by the Federal Reserve. This month, the Fed responded to the growing affordability conundrum. In a move described as a patient approach to further rate changes, the Fed did not increase rates during January 2019.

New Listings were up 23.9 percent to 611. Pending Sales increased 16.5 percent to 430. Inventory grew 10.0 percent to 2,262 units.

Prices were stable as Median Sales Price decreased slightly to $327,993. Days on Market decreased 8.5 percent to 140 days. Months Supply of Inventory remained flat at 5.1

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Home prices were consistently up again in most markets in 2018 but at reduced levels compared to recent years. High demand for few homes for sale fueled price increases, but evidence is mounting that inventory will finally improve in 2019. This may apply some downward pressure on prices for beleaguered home buyers. A fourth interest rate hike by the Federal Reserve in 2018 spooked the stock market to close out the year. The Fed has indicated that the number of rate increases in 2019 will be halved, which may be of little comfort to an already compressed consumer.

December 2018 Market Reports

 

New Listings were up 2.8 percent to 336. Pending Sales increased 1.0 percent to 289. Inventory grew 5.9 percent to 2,231 units, the eleventh consecutive month of year-over-year

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The booming U.S. economy continues to prop up home sales and new listings in much of the nation, although housing affordability remains a concern. Historically, housing is still relatively affordable. Although Freddie Mac recently reported that the 30-year fixed rate is at its highest average in seven years, reaching 4.94 percent, average rates were 5.97 percent ten years ago, 6.78 percent 20 years ago and 10.39 percent 30 years ago. Nevertheless, affordability concerns are causing a slowdown in home price growth in some markets, while price reductions are becoming more common.

November 2018 Market ReportNew Listings were up 11.0 percent to 533. Pending Sales increased 1.0 percent to 396. Inventory grew 4.6 percent to 2,309 units.

Prices were still soft as Median Sales Price

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If the last few months are an indication of the temperature of housing markets across the country, a period of relative calm can be expected during the last three months of the year. A trend of market balance is emerging as we approach the end of 2018. Prices are still rising in most areas, and the number of homes for sale is still low, but there is a general shrinking of year-over-year percentage change gaps in sales, inventory and prices.

October 2018 Market Reports


New Listings were up 17.2 percent to 674. Pending Sales increased 2.8 percent to 446. Inventory grew 2.6 percent to 2,327 units. Prices moved higher as Median Sales Price was up 5.5 percent to $334,060. Days on Market decreased 9.5 percent to 134 days. Months Supply of Inventory was down 10.2 percent to 5.3

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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.

September 2018 Market Reports

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

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Rising home prices, higher interest rates and increased building material costs have pressured housing affordability to a ten-year low, according to the National Association of Home Builders. Keen market observers have been watching this situation take shape for quite some time. Nationally, median household income has risen 2.6% in the last 12 months, while home prices are up 6.0%. That kind of gap will eventually create fewer sales due to affordability concerns, which is happening in several markets, especially in the middle to high-middle price ranges.August 2018

 

New Listings were up 28.9 percent to 674. Pending Sales increased 10.9 percent to 490, the seventh consecutive month of year-over-year gains. Inventory grew 1.3 percent to 2,250 units.

Prices

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July 2018 Market Report

Housing price bubble chatter has increased this summer, as market observers attempt to predict the next residential real estate shift. It is too early to predict a change from higher prices and lower inventory, but the common markers that caused the last housing cooldown are present. Wages are up but not at the same pace as home prices, leading to the kind of affordability concerns that can cause fewer sales at lower prices. At the same time, demand is still outpacing what is available for sale in many markets.

New Listings were up 7.6 percent to 541. Pending Sales increased 25.4 percent to 519. Inventory shrank 5.9 percent to 2,161 units. Prices moved higher as Median Sales Price was up 2.8 percent to $298,158. Days on Market decreased 17.8

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