January Housing Report

January 31, 2018

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

You may also like…

May 2022 National Housing Report

May 2022 National Housing Report

Although May is one of the most active months of the year for home sales, closings in May 2022 were 8.5% lower...



Archives

How can we help?

Contact us for a whole new level of service. Email or call for assistance.

661-945-9461

RE/MAX Agents DO MORE from FOR SALE to SOLD!

Pin It on Pinterest

Share This