Price Increases and Inventory Declines
Home Ownership In 2018 – Video. Listing prices in the residential real estate market declined slightly month-over-month, while for-sale inventory continued to be in short supply but has declined more slowly, according to new data from realtor.com®. Inventory continued to sell at a rapid pace, moving 7 percent more quickly than in December 2016.
The median age of properties on realtor.com in December reached 83 days, and properties sold 6 days more quickly than this time last year- even as prices continued to climb year-over-year.
Earlier in the summer, the nationwide median home list price reached $275,000 for the first time. In December, the median home price declined to $270,000 and ended at 8 percent higher than one year ago. This represents a slight deceleration from the four month trend of double-digit year-over-year growth seen in the summer and early fall.
The seasonal decline in inventory continues, as inventory has fallen 9 percent since November, and inventory remains substantially lower than one year ago, falling by 9 percent since last November. Although higher than the year-over-year declines in October and November, it’s still slower than the double-digit percentage declines seen in most of 2017. Approximately 274,000 new listings hit the market in December, a 2 percent decrease over last year and a shift from the increases seen in the prior months.
Home Ownership In 2018 Video
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I specialize in working with buyers in the following areas: Houston, Spring, Cypress, Tomball, Magnolia, Conroe, Huntsville, Point Blank, Lake Livingston area, Onalaska, Cape Royale, Cold Spring, Blanchard, Trinity, Woodville Texas.