Housing demand trends
Sales compared to average days on market
|Date||Home sales||Average days on market|
|Metro||Sales change||Average days on market changed|
|Atlanta-Sandy Springs-Roswell, GA||No change|
|Charlotte-Concord-Gastonia, NC-SC||No change|
|Chicago-Naperville-Arlington Heights, IL||No change|
|Cleveland-Elyria, OH||No change|
|Las Vegas-Henderson-Paradise, NV|
|Los Angeles-Long Beach-Glendale, CA||No change|
|Miami-Miami Beach-Kendall, FL|
|Minneapolis-St. Paul-Bloomington, MN-WI|
|New York-Jersey City-White Plains, NY-NJ||No change|
|Portland-Vancouver-Hillsboro, OR-WA||No change|
|San Diego-Carlsbad, CA|
|San Francisco-Redwood City-South San Francisco, CA|
|Tampa-St. Petersburg-Clearwater, FL|
Home sales were down at the end of 2018 and beginning of 2019, but average days on the market (DOM) for a house remained relatively unchanged.1 In November 2018, 457,343 units were sold; a decrease of 20,000 compared to last year. However, DOM was stable—87 days in November 2017 and 89 days in November 2018. Sales took a large dip in January 2019—decreasing more than 65,000 units to 314,977. Yet, the DOM for January 2018 and January 2019 was 92 days.
Rising interest rates and affordability issues may have caused the decrease in home sales at the start of the year. Out of the top 18 housing markets, only San Diego-Carlsbad, California, had a month-over-month increase. Yet, DOM numbers indicate that it could still be a seller’s market.
1Source data: CoreLogic®
Data date: 3/25/2019
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