The Curtiss Team's Monthly Update - February 2018
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 5.6 million homes during the month of December. This was a decrease of 3.6 percent from November and an increase of 1.1 percent from December of last year.
The median home price decreased to $246,800 in December, which was down 0.2 percent from November and up 5.8 percent from December 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 3.2-month supply of housing inventory in December, which was an 8.6 percent decrease from November. The total number of available homes for sale has decreased by 11.1 percent compared to December of last year.