Week of May 6, 2019

Monthly housing trends

Inventory levels compared to listing price

Inventory levels compared to listing price
Month Home inventory Median listing price
Feb-18 660,627 $279,967
Mar-18 685,931 $286,267
Apr-18 719,681 $292,633
May-18 755,555 $297,600
Jun-18 784,239 $299,467
Jul-18 803,375 $299,467
Aug-18 813,665 $299,167
Sep-18 816,545 $299,000
Oct-18 800,503 $298,667
Nov-18 749,402 $297,123
Dec-18 696,895 $295,756
Jan-19 660,758 $294,634
Metro Inventory change Median listing price change
Atlanta-Sandy Springs-Roswell, GA up up
Charlotte-Concord-Gastonia, NC-SC up up
Chicago-Naperville-Arlington Heights, IL down up
Cleveland-Elyria, OH down up
Dallas-Plano-Irving, TX up down
Denver-Aurora-Lakewood, CO up down
Detroit-Dearborn-Livonia, MI up up
Las Vegas-Henderson-Paradise, NV up up
Los Angeles-Long Beach-Glendale, CA up up
Miami-Miami Beach-Kendall, FL up up
Minneapolis-St. Paul-Bloomington, MN-WI down up
New York-Jersey City-White Plains, NY-NJ up up
Phoenix-Mesa-Scottsdale, AZ up up
Portland-Vancouver-Hillsboro, OR-WA up up
San Diego-Carlsbad, CA up up
San Francisco-Redwood City-South San Francisco, CA down up
Tampa-St. Petersburg-Clearwater, FL up up

Although median listing prices increased in 2018, market supply could reduce future gains.1 List prices rose almost $25,000 in 2018 to reach $294,634 by January 2019. However, the year-over-year number of active listings remained steady stabilizing around 660,000.

Home inventory peaked in September 2018 to 816,545 active listings. Prices spiked in June and July 2018 to $299,467, which may be due to higher summer demand.

In 18 major metropolitan areas, the number of active listings increased in 14. With the exception of two markets, prices also jumped. It is possible that this rise in supply could eventually drag down price increases. San Diego-Carlsbad, California, had the largest inventory gain, jumping to 40.75%. Detroit-Dearborn-Livonia, Michigan, saw the biggest price boost, rising by 28.92%.

1Source data: CoreLogic®

Data date: 3/21/2019

 

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