Week of September 17, 2018

Monthly inventory levels and median prices

Number of listings compared to median prices

Number of listings compared to median prices
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Month Home inventory Median listing price
Aug-2017 781,302 $292,633
Sep-2017 770,573 $290,967
Oct-2017 745,996 $290,267
Nov-2017 695,207 $285,933
Dec-2017 654,231 $284,338
Jan-2018 632,867 $286,705
Feb-2018 647,553 $293,372
Mar-2018 671,008 $303,333
Apr-2018 701,864 $311,667
May-2018 728,588 $319,165
Jun-2018 741,019 $321,895
Jul-2018 742,320 $322,842

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  Metro   Inventory change Median listing price change
Atlanta-Sandy Springs-Roswell, GA
Boston, MA
Charlotte-Concord-Gastonia, NC-SC
Chicago-Naperville-Arlington Heights, IL
Cleveland, TN
Cleveland-Elyria, OH
Dallas-Plano-Irving, TX No change
Denver-Aurora-Lakewood, CO N/A
Detroit-Dearborn-Livonia, MI
Las Vegas-Henderson-Paradise, NV
Los Angeles-Long Beach-Glendale, CA No change
Miami-Miami Beach-Kendall, FL
Minneapolis-St. Paul-Bloomington, MN-WI No change
New York-Jersey City-White Plains, NY-NJ
Phoenix-Mesa-Scottsdale, AZ
Portland-Vancouver-Hillsboro, OR-WA
San Diego-Carlsbad, CA
San Francisco-Redwood City-South San Francisco, CA
Seattle-Bellevue-Everett, WA N/A
Tampa-St. Petersburg-Clearwater, FL

This graph compares the home inventory to the median listing price from August 2017 to July 2018. Both home inventory and median listing price had dropped after August 2017, but home inventory began to increase again after January 2018 and reached 742,320 in July 2018, which is still about 5% lower than one year ago. The national median listing price reached $322,842 in July 2018, about 10.3% higher than last August. The data shows that the market was hot probably due to low interest rates and high demand.

A closer look at trends in inventory and listings in major metropolitan areas reveals that home inventory increased in more than half of the major metro areas. Median listing prices also rose in most major metropolitan area. This reflects home prices are continuing to rise at a fast pace nationwide.1

1Source data: CoreLogic®
Data date: 08/25/2018

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