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December 2017 Housing Market: Monthly Sales Down But 2017 Growth Best Since 2006

December existing home sales fell compared to November, but the news for 2017 as a whole was positive. Sales grew to a level not seen since 2006, in spite of the continuing drop in inventory and corresponding increase in prices.  Days on the market mirrored the previous month, but were lower than they were a…

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January 26, 2018

November Housing Market: Sales Near 11 Year High

November existing home sales jumped to a level not seen since December 2006, despite the continued lack of inventory. Given the increase in sales and the low supply, it’s not surprising that median prices continued to rise, extending the streak of year-over-year price increases.  Homes stayed on the market slightly longer than in October, but…

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December 22, 2017

October Housing Market: A Slight Uptick In Sales

The current housing market serves as a classic illustration of the law of supply and demand. At this time, demand outstrips supply and prices increase as a result.  The good news is that there were more sales in October compared to the previous month, but that’s tempered by the fact that there were fewer sales…

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November 28, 2017

September 2017 Housing Market

The existing home sales narrative remains the same: Lack of inventory is the dominant market factor.  While it’s true that September sales rose slightly compared to the previous month, they were still lower than they were a year earlier.  Median prices rose yet again, extending the streak of year-over-year price increases.  Homes continued to sell…

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October 24, 2017

August 2017 Housing Market: Sales Drop (Again), Prices Rise (Again)

Once again, lack of inventory was the story for existing home sales. August’s sales pace dropped to the lowest in 12 months, while median prices rose, extending the streak of year-over-year price increases.  Homes continued to sell quickly, with median days on the market staying steady.  The sellers’ market shows no sign of slowing. August…

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September 25, 2017

July 2017 Housing Market: Sales Pace Slows, Prices Rise

Lack of inventory has been the dominant feature of the existing home sales market this year, and July was no exception. July’s sales pace dropped to the lowest this year, while median prices rose, extending the streak of year-over-year increases.  Homes are still selling quickly, although the median days on the market rose slightly.  The…

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August 25, 2017

June Housing Market: Low Inventory Slows Sales

May’s hot sales pace slowed in June as lack of inventory continued to plague the market. Median prices rose yet again, extending the streak of all-time highs, and while days on the market rose slightly, they were still below 30.  This market continues to favor sellers. June existing home sales dropped by 1.8 percent compared…

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July 25, 2017

May Housing Market: Faster Sales and Record Highs

After a somewhat sluggish pace in April, the housing market picked up speed again in May with median prices hitting an all-time high and days on the market continuing to fall. Sellers continue to be the winners in this market. May existing home sales rose by 1.1 percent compared to April, and were 2.7 percent…

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June 26, 2017

Housing Market Takes Off In March

After February’s slowdown, March brought a sharp rebound in sales and a continuing uptick in prices. March existing home sales increased by 4.4 percent over February, and 5.9 percent over March 2016, according to the National Association of Realtors (NAR) March existing home sales report. (HYPERLINK: https://www.nar.realtor/news-releases/2017/04/existing-home-sales-jumped-44-in-march) It’s also the month with the highest sales…

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April 25, 2017

2016 Was A Good Year For Home Sales But Prices Rose

The housing market has been working its way back since the meltdown of 2008, and last year finally saw the recovery of sales to the highest level since 2006.  The news is mixed, however, because if you were a buyer you saw an increase in home prices and mortgage interest rates toward year-end. The law…

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January 30, 2017
We feel very fortunate to have worked with this team.  Thanks for everything you did to help make purchasing our first home possible. -Kathleen B. | Columbus, OH | 4.25.17
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