Retire AZ Style News

October National Housing Report from RE/MAX

November 3rd, 2016 1:20 PM by Sharon Mason

October National Housing Report from RE/MAX 

According to the October National Housing Report from RE/MAX, the median sales price for September was 5.1 percent above last year, coming in at $219,780. In a rare occurrence, not a single metro posted a year-over-year price drop. The average Month’s Supply of Inventory rose from 3.4 in August to 3.9, the highest since February.  We are still far below the six month’s supply considered to be a market balanced equally between buyers and sellers. Eight markets, predominantly in the Northeast, have a six or more month supply. Meanwhile, nineteen have three months or less, with the majority being in the West. 

“The market usually sees fewer home sales in September, as buyers make a seasonal transition from summer to fall,” said Dave Liniger, RE/MAX CEO, Chairman of the Board and Co-Founder. “Even so, sales were the highest of any September since we launched our Housing Report in 2008. Also, price increases continue to be in the moderate 5-percent year-over-year range. Overall, this is a market that most everyone can be satisfied with.”

To read the full October National Housing Report from RE/MAX click here. Are you considering a move but unsure of your home values? I can help! Give me a call today to receive a complimentary market analysis and a written plan to get your home sold for top dollar in today’s market. Sharon

Your Arizona Retirement Expert,
Sharon Mason
RE/MAX Professionals

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