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Category Archives: National Housing Report

April Housing Report

If you are looking for a new home, chances are you’re not finding many homes on the market. If you’re a seller, you have likely noticed the value of your home is rising — no matter what part of the country you live in.

According to the April 2018 RE/MAX National Housing Report, home prices continued to climb year-over-year for the 24th consecutive month in March, while home sales continued to decline for a fourth consecutive month, making it a seller’s market in most regions of the country. To access the housing report infographic, visit: https://rem.ax/2phKHWT.

“Homebuyers shouldn’t be discouraged by the record-breaking numbers — even with higher prices and closed transactions, this March marks the second-highest in sales in the history of the RE/MAX National Housing Report,” said RE/MAX CEO Adam Contos. “It’s more important than ever to work with an experienced RE/MAX agent who is invested and involved in their community. They are dialed into the nuances of a neighborhood, making your home search or sale easier and quicker.”

When the Months Supply of Inventory falls below six months, it’s a seller’s market, and all 54 metro areas surveyed for the monthly housing reported under six months of inventory.

“We also look at the Days on Market as another indicator of tight inventory and the national average stands at 60 days,” said Contos. “That’s four days less than a year ago and another March record-breaker.”

Find the complete report here

March Housing Report

One word sums up February home sales across the country – inventory. The lack of homes for sale continues to be the key factor as February marks the third consecutive month of year-over-year declines in home sales, coupled with quick sales and record prices. To access the housing report infographic, visit: https://rem.ax/2phKHWT.

According to the March RE/MAX National Housing Report, home sales dropped 0.2% from February 2017, while the Days on Market average of 62 days was the lowest of any February in the report’s nine-year history.

“We shared our outlook of the real estate market in the new year and it seems that even two months into 2018 we’re already seeing records break,” said RE/MAX CEO Adam Contos. “The February 2018 median sales price of $228,700 marks the 22nd consecutive month of year-over-year price increases.”

The Months Supply of Inventory was 3.1 – also a RE/MAX National Housing Report February record – and underscored an average decline in inventory of 13.7% among the 52 markets reporting.

“While the hot markets like Denver and San Francisco continue to see low supplies of inventory, we’re also watching more homebuyers migrate into unexpected markets,” added Contos. “In one year, Billings, Montana, saw a 59 percent increase in home sales, along with Boise, Idaho, with a 25 percent increase in sales.”

Out of 52 markets, 18 metro areas saw double-digit percentage increases in median sales price year-over-year. While only two metros saw a year-over-year decrease in median sales price – Albuquerque, NM, and Burlington, VT.

Find the complete report here

February Housing Report

The record speed of January home sales may signal that buyers aren’t waiting around for the typical spring selling season to begin. Despite home sales being down 2.8% year-over-year, the February RE/MAX National Housing Report shows homes sold in a mere 60 days last month, marking the fewest Days on Market of any January in the nine-year history of the report.

Days on Market typically decline each month leading into the heart of the spring and summer buying season in July and start increasing monthly as fall progresses into winter.

“We recently saw the groundhog predict six more weeks of winter, but January housing numbers are telling a different story,” said RE/MAX CEO Adam Contos. “It looks like the spring selling season may have arrived early because home buyers are not slowing down. The speed of this market is on pace with what we saw in the prime of the 2017 selling season.”

The Median Sales Price of $224,000 also set a January record — up 6.7% year-over-year. Out of 53 markets, 51 posted gains, marking January as the 22nd consecutive month of year-over-year price increases dating back to April 2016.

Find the complete report here

January Housing Report

While sales dropped slightly from a year ago, December capped off a 2017 of record home prices, speedy sales and low inventory.

The January RE/MAX National Housing Report shows the median home price rose 8.1% year-over-year, with 50 of the report’s 54 markets posting increases. At the same time, December sales dropped 3.3% from December 2016, with 39 markets reporting fewer transactions. Making sales harder was a Months Supply of Inventory of 3.7 which is the lowest December figure in the nine-year history of the report. That corresponds with a 14.6% decline in inventory, lengthening a streak of monthly declines that began in November 2008.

Also setting a report record for December was the speed of home sales: 57 days. That figured into an overall 2017 median for Days on Market of 52.5 — nearly a week less than the 2016 median of 58.5 days.

Home buyers paid record prices in 2017, led by June’s Median Price Sold of $245,000. Prices increased year-over-year in every month of 2017, with December marking the 21st consecutive month of year-over-year price increases dating back to April 2016.

Find the complete report here

December Housing Report

November became the sixth month of 2017 to post an increase in year-over-year home sales, bucking prolonged trends of home price increases and inventory declines, according to the December RE/MAX National Housing Report.

The sales increase of 1.1% came on the strength of increased transaction closings in 36 of the report’s 54 markets. At the same time, buyers felt increasing headwinds as the Median Sales Price rose to $227,500 and marked the 20th consecutive month of year-over-year home price increases. In fact, the Median Sales Price has increased year-over-year in 69 of the last 70 months dating back to February 2012.

November’s inventory decline of 14.5% extended the streak of consecutive months of fewer homes on the market to 108. The current streak started nine years ago, in November 2008, shortly after the RE/MAX National Housing Report was introduced.

Find the complete report here

November Housing Report

Despite record low inventory for the month, October home sales increased 2.5% year-over-year and kept 2017 prices ahead of 2016, according to this month’s RE/MAX National Housing Report.

Thirty-seven of the 53 metro markets in the November RE/MAX National Housing Report posted sales increases over October 2016. Meanwhile, inventory gauges were at their lowest point for an October in the report’s nine year history. The Months Supply of Inventory dropped to 3.3 – the lowest for any October in this housing report. It was mirrored by the Days on Market average of 51 days, also a new low for October for the report and a full week faster than the selling rate of homes in October of last year.

The Median Sales Price of $224,000 increased 3.3% over last October and was $19,000 higher than the same month in 2015. The median price remained on a par with the prices of last spring that kicked off the peak summer selling season.

Find the complete report here

October Housing Report

September became the fifth month this year to post a decline in home sales compared to a record-setting 2016, while marking the 71st consecutive month of rising sale prices year-over-year, according to the October RE/MAX National Housing Report.

Find the complete report here.

September Housing Report

U.S. home sales in August extended a summer of strong demand and weak inventory that once again resulted in listings with short shelf lives. In addition to the normal late summer real estate trends, a primary focus during the next month will be on housing in specific markets affected by natural disasters like devastating wildfires and hurricanes Harvey and Irma.

The RE/MAX National Housing Report shows August sales topping July by 2.8%, but finishing 0.84% below August 2016 which remains the best August in the report’s 9-year history. Houston, where Hurricane Harvey made landfall on August 25, already experienced a 21.3% drop in sales from July and a 27.5% decline year-over-year.

Inventory in the report’s 54 markets declined 3.9% from July and 13.7% from a year ago, driving Days on Market to drop to 47 – the fastest listing-to-sale average for any August. The Months Supply of Inventory, while continuing to rebound from a May low of 2.6, settled at 3.1 months and set another report record for August.

Find the complete report here.

August Housing Report

DENVER – While July home sales decreased slightly, homes sold at a faster rate than any month in nearly a decade, according to the August RE/MAX National Housing Report that analyzes housing data in 54* metro areas. July home sales declined 0.8% year-over-year, and the Median Sales Price of $239,950 – while slightly lower than June’s – was 7.4% higher year-over-year. Homes sold quickly in July, with an average 45 Days on Market, a record low for the report.

Find the complete report here.

July Housing Report

DENVER – Halfway through 2017, the U.S. housing market is on pace for another record year as four of the last six months have topped same month sales from 2016, according to the July 2017 RE/MAX National Housing Report. June home sales were 1.4% higher than June 2016, which was previously the month with the most home sales in the nine-year history of the report.
Find the complete report here.