The Curtiss Team's Monthly Update - October 2017
Home sales increased 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 5.35 million homes during the month of August. This was a decrease of 1.7 percent from July and an increase of 0.2 percent from August of last year.
The median home price decreased to $253,500 in August, which was down 1.8 percent from July and up 5.6 percent from August of last year. The median home price has increased by approximately $13,500 in the past year alone.
Inventory - Month's Supply
There was a 4.2-month supply of housing inventory in August, which was flat from July. The total number of available homes for sale has decreased by 6.7 percent compared to August of last year.