July 2019
At this point in the year, we are getting a good sense for how the housing market is likely to perform for the foreseeable future. And although it is not a particularly exciting forecast, it is a desirable one. Markets across the country are regulating toward a middle ground between buyers and sellers. While it remains true that sales prices are running higher and that inventory options are relatively low, buyers are beginning to find wiggle room at some price points and geographies.
When comparing 2019 to 2018 statistics, New Listings increased 5.0 percent for single-family detached homes and 17.3 percent for single-family attached homes. Pending Sales increased 6.2 percent for single-family detached homes but decreased 12.1 percent for single-family attached properties.
Median List Price was down 5.9 percent for single-family detached homes and 6.8 percent for single-family attached properties. Months Supply of Inventory increased 21.4 percent for single- family detached homes but remained flat for single-family attached properties.
An extended trend of low unemployment, higher wages and favorable mortgage rates has been a terrific driver of housing stability in recent years. What is different about this year so far is that prices are not rising as quickly. Some of the hottest Western markets are even cooling slightly, while some Northeast markets are achieving a state of recovery after a decade of battling back from recession. As a whole, the selling season is looking fairly stable across the nation.
Single Family Detached Market Overview
Single Family Attached Market Overview
New Listings
Pending Sales
Closed Sales
Median List Price
Median Sales Price
Average Sales Price
Median Price Per Square Foot
Average Price Per Square Foot
Dollar Volume of Closed Sales (in millions)
Median Percent of List Price to Sale Price
month, not accounting for seller concessions.
Average Percent of List Price to Sale Price
month, not accounting for seller concessions.
Median Days on Market Until Sale
Housing Affordability Index
is 120% of what is necessary to qualify for a median-priced home under prevailing interest rates. A higher number means greater affordability.
End of Month Inventory
Months Supply of Inventory
Total Market Overview
Area Overview
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