Good News For Buyers And Sellers This Spring Selling Season

Dated: 04/12/2019

Views: 86

Whether you’re planning on buying or selling a home, there’s good news to report as the spring selling season approaches. Slowing sales and growing inventories benefit buyers while record prices benefit sellers, according to data in this month’s RE/MAX National Housing Report.

“Trends of five months or more often indicate significant shifts, and the year-over-year trends in declining sales and rising inventory have both reached that length now,” said RE/MAX CEO Adam Contos. “The big picture supports an ongoing return to more balanced conditions, which is beneficial to buyers and sellers.”

Inventory Bounces Back
Inventory grew 5.8 percent over February of 2018, marking the fifth consecutive month of growth following a decade-long trend of shrinking inventory. Of the 54 metro areas surveyed in February 2019, the overall average number of home sales is down 4.2 percent compared to last February.

Rising Median Sales Price 
Bucking downward trends, the Median Sales Price increased to $240,000, a year-over-year gain of 5.5 percent and a February record in the 10-year history of the report. Four metro areas increased year-over-year by double-digit percentages, with the largest increases seen in Boise, Idaho; Cincinnati, Ohio; and Wilmington/Dover, Delaware.

Home Sales Down
Home sales in the 54-market report have declined year-over-year for seven consecutive months, though February’s downturn of 4.2 percent was the smallest since the 1.1 percent drop that started the streak in August 2018. Leading the month-over-month sales percentage increase were Houston, Texas; Birmingham, Alabama; and Raleigh-Durham, North Carolina.

“The next few months will determine whether the shift brings a wave of buyers into the market for the spring selling season,” added Contos. “Members of our network are reporting high local demand along with a need for even more inventory. The optimism for a solid spring exists — and a more balanced market certainly contributes to it.”

Blog author image

Nichol Polk

Helping Families Make Dreams Become Reality, that’s my motto. I am a native of Brazoria County working in all surrounding areas. I’ve dedicated my professional career to helping others. I have a p....

Want to Advertise on this Site?

Latest Blog Posts

101 Fun Things To Do With Kids This Summer

101 fun things to do with kids this summerTry these 101 ideas for activities to keep kids from getting bored this summer and create memories that they'll have for a lifetime (or at

Read More

Earnest Money Down Payment And Closing Costs Are Not The Same Thing

Purchasing a home will have some fees upfront.  There is earnest money, the money you pay when your offer is accepted.  There is down payment, which is what the lender requires you to

Read More

Enjoy The Benefits Of Owning A Ranch

Owning a ranch can provide many benefits.  It is a great place to retreat with the family and enjoy time together away from the busy life of the city.  Business owners can also use it as a

Read More

UNRESTRICTED LAND FOR SALE

UNRESTRICTED LAND FOR SALEOffered at $74,9001+ acre832-444-4225

Read More