Monthly inventory levels and median prices
Number of listings compared to median prices
|Month||Home inventory||Median listing price|
|Metro||Inventory change||Median listing price change|
|Atlanta-Sandy Springs-Roswell GA|
|Chicago-Naperville-Arlington Heights IL|
|Cleveland-Elyria OH Metropolitan|
|Las Vegas-Henderson-Paradise NV|
|Los Angeles-Long Beach-Glendale CA|
|Miami-Miami Beach-Kendall FL|
|Minneapolis-St. Paul-Bloomington MN-WI|
|New York-Jersey City-White Plains NY-NJ|
|San Diego-Carlsbad CA|
|San Francisco-Redwood City-South San Francisco CA|
|Tampa-St. Petersburg-Clearwater FL|
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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