Week of January 28, 2019

Monthly housing demand trends

Sales compared to average days on market

Trends of monthly housing demand
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Data Period
Data Period
Total Sales Count
Total Sales Count
All Listings DOM - Mean
All Listings DOM - Mean
September 2018 425,717 77.00
August 2018 578,048 74.00
July 2018 563,621 72.00
June 2018 615,301 71.00
May 2018 599,261 71.00
April 2018 528,918 75.00
March 2018 515,494 80.00
February 2018 393,226 86.00
January 2018 382,776 92.00
December 2017 464,089 92.00
November 2017 480,246 89.00
October 2017 516,061 84.00

The graph above provides a look at the change in actual number of home sales and average days on market from October 2017 to September 2018. It indicates a strong seller's market nationwide.

The increase in the number of home sales with a decrease in average days on market between March and August follows the seasonal pattern of the national housing market. In a 12-month period, May had the shortest number of average days on the market, with 71. December 2017 and January 2018 had the longest number of average days on the market—both at 92.

With recent reports that the housing market could be less robust this year, there could be a decrease in the number of home sales. There may also be an increase in the number of days a home is on the market.

Month-over-month changes for the average days a home is on the market increased in major metropolitan areas, except Detroit and Las Vegas—which remained flat. The largest increase for average days on the market occurred in Portland, Oregon, which rose 7.55% from 53 days to 57.

Source data: CoreLogic®

Data date: 12/17/2018

 

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