Prices Still Rule The National Housing Market Inventory Catches A Break

Dated: 04/12/2019

Views: 144

Six straight months of declining home sales have resulted in one of the largest year–over–year inventory increases in at least 10 years, according to the most recent RE/MAX National Housing Report.

What does that mean to the average homebuyer and seller? If you’re a buyer, it’s good news — you potentially have more homes to choose from! It’s been a while since the National Housing Report has reflected a rise in inventory, especially in popular metro destinations.

If you’re a seller, there’s good news for you too. According to January data, the price of homes continues to rise across the country. That said, now more than ever, sellers must be in tune to their local housing market and aware of prices, along with trends that are selling homes faster. For guidance, turn your local professional real estate agent.

Here’s a simple breakdown of the latest data found in the RE/MAX National Housing Report:

    1. Price is still king

      The median sales price jumped to $234,000 — an increase of 4.6 percent over the same month last year and the record for a January report.

    2. Inventory is on the rise
      Inventory grew year-over-year by an average of 6.4 percent across the report’s 54 U.S. metro areas. January marked the fourth consecutive month of year-over-year inventory growth — reversing a decade-long trend of shrinking inventory.

    3. Home sales are declining
      Year-over-year home sales dropped 11 percent. As noted, that’s good news for buyers because inventory is growing. And for sellers, it’s a good idea to work with an expert agent to determine the best list price suited to your local housing market.

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

Are Low Interest Rates Here To Stay

Are Low Interest Rates Here To Stay? Interest rates for a 30-year fixed rate mortgage have been on the decline since November, now reaching lows last seen in January 2018. According to 

Read More

Looking To Get Growing

Indoor Gardening Lets You Grow Greens in Any SpaceDo you have a green thumb but no garden to grow your greens? Indoor farming methods have seen a resurgence over the past few years, particularly

Read More

The Pros And Cons Of Converting A Garage To A Living Space

Record-low housing inventory across the nation has some homeowners rethinking their plans to move to a bigger space. Instead, they may be looking at ways to renovate or expand their current home.

Read More

Map It Out The Homebuying Timeline

Now that you know who's riding with you on your homebuying journey, it's time to map out the details of your trip. Buying a home is likely the largest purchase you'll ever make – that's

Read More