Week of February 4, 2019

Regional housing market snapshot

Change in total sales by region

Change in total sales by region
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Region MoM change in total sales
West 2.60%
Midwest -4.30%
South -2.60%
Northeast -1.80%
State MoM change in total sales
Alabama -4.4%
Alaska -4.6%
Arakansa -4.6%
Arizona 2.5%
California 0.1%
Colorado 3.3%
Connecticut 5.2%
Deleware -30.4%
District of Columbia 25.8%
Florida 0.9%
Georgia -6.6%
Hawaii -11.7%
Idaho 9.9%
Illinois 0.8%
Indiana -4.9%
Iowa -14.1%
Kansas -3.8%
Kentucky -0.2%
Louisiana 1.7%
Maine 5.8%
Maryland -6.4%
Massachusetts 1.9%
Michigan -2.3%
Minnesota -0.7%
Mississippi 5.7%
Missouri -8.2%
Montana 1.8%
Nebraska -13.1%
Nevada -2.5%
New Hamsphire -5.9%
New Jersey -8.8%
New Mexico 0.7%
New York -6.6%
North Carolina 7.7%
North Dakota 13.9%
Oklahoma 2.6%
Oregon 7.3%
Orlando 7.3%
Pennslyvania 7.3%
Rhode Island 2.9%
South Carolina 4.4%
South Dakota -23.8%
Tennesse -23.8%
Texas -11.0%
Utah 3.4%
Vermont 11.4%
Virginia 1.7%
Washington 6.3%
West Virginia 5.8%
Wisconsin -8.1%
Wyoming -0.5%

The bar chart above shows the month-over-month change in total home sales from September 2018 to October 2018 by region.1

Overall, the number of homes sold in the U.S. decreased by 1.5% in October 2018. The decrease could be partially due to the end of the summer buying season. However, it could also be attributed to the general slowdown in the housing market as rising interest rates and lack of affordability keep some buyers away.

The steepest decline was in the Midwest, where total home sales dipped by 4.3% in October to 80,972 units sold. Colder weather and lack of demand could have led to the decline. North Dakota and Illinois were the only states in the Midwest to show an increase, with 13.9% growth and 0.8% growth respectively.

The West remained strong, which still has high demand and tight inventory. The strongest states were Idaho (9.9% growth in housing units sold), Oregon (7.3%), and Washington (6.3%).

1

Source data: CoreLogic®

Data date: 1/01/2019

 

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