The Curtiss Team's Monthly Update - February 2017
Home sales decreased year-over-year.
Home prices have continued to increase year-over-year.
The National Association of REALTORS® reported home sales at a seasonally adjusted annual rate of approximately 5.5 million homes during the month of December. This was a decrease of 2.8 percent from November, and an increase of 0.7 percent from December of last year.
The median home price decreased to $232,200 in December, which was down 0.9 percent from November and up 4.0 percent from December of last year. The median home price has increased by approximately $9,000 in the past year alone.
Inventory - Month's Supply
There was a 3.6-month supply of housing inventory in December, which was a 7.7 percent decrease from November. The total number of homes for sale decreased by 7.7 percent compared to December of last year.