Week of March 4, 2019

Monthly inventory levels and median prices

Number of listings compared to median prices

Number of listings compared to median prices
Month Home inventory Median listing price
Jan-18 648,207 $283,633
Feb-18 663,681 $290,600
Mar-18 688,840 $299,767
Apr-18 722,598 $308,133
May-18 758,513 $313,167
Jun-18 787,109 $314,967
Jul-18 805,602 $313,300
Aug-18 814,826 $313,133
Sep-18 815,532 $311,500
Oct-18 793,795 $310,941
Nov-18 737,557 $308,108
Dec-18 702,692 $307,162
Metro Inventory change Median listing price change
Atlanta-Sandy Springs-Roswell GA down arrow down arrow
Charlotte-Concord-Gastonia NC-SC up arrow up arrow
Chicago-Naperville-Arlington Heights IL up arrow up arrow
Cleveland TN up arrow up arrow
Cleveland-Elyria OH Metropolitan down arrow up arrow
Dallas-Plano-Irving TX up arrow up arrow
Denver-Aurora-Lakewood CO up arrow down arrow
Detroit-Dearborn-Livonia MI up arrow up arrow
Las Vegas-Henderson-Paradise NV up arrow up arrow
Los Angeles-Long Beach-Glendale CA up arrow up arrow
Miami-Miami Beach-Kendall FL up arrow up arrow
Minneapolis-St. Paul-Bloomington MN-WI up arrow up arrow
New York-Jersey City-White Plains NY-NJ up arrow up arrow
Phoenix-Mesa-Scottsdale AZ up arrow up arrow
Portland-Vancouver-Hillsboro OR-WA up arrow up arrow
San Diego-Carlsbad CA up arrow up arrow
San Francisco-Redwood City-South San Francisco CA up arrow up arrow
Tampa-St. Petersburg-Clearwater FL up arrow up arrow

The above graph compares home inventory to median listing price from January 2018 to December 2018.1 Median listing prices nationwide broke $300,000 in April. It peaked at $314,967 in June, and remained above $300,000 for the remainder of the year.

Home inventory was also high in 2018, breaking above 700,000 units in April to peak at 815,532 in September. Inventory levels were also elevated compared to the prior year, with 63,780 more housing units available in December 2018 versus December 2017.

It is possible that listing prices could come down in 2019 if housing demand cools due to higher home costs and interest rates. For 2018, however, most of the major metro areas followed the national trend of rising listing prices and larger inventory. One exception was the Denver Metropolitan area, where more inventory may be pushing down prices. The Cleveland area had a reverse situation, where listing prices rose possibly due to less inventory.

1 Source data: CoreLogic®

Data date: 1/28/19

 

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