Retire AZ Style News

RE/MAX October National Housing Report

October 26th, 2017 10:15 AM by Sharon Mason

RE/MAX October National Housing Report

September became the fifth month this year to post a decline in home sales compared to a record-setting 2016, while marking the 71st consecutive month of rising sale prices year-over-year, according to the October RE/MAX National Housing Report. Joining August, July, April and February, September home sales dropped 4.2 percent year-over-year in the report’s monthly analysis of housing data in 54 metro areas.

Going in the opposite direction, the Median Sales Price increased to $225,000. Though the lowest price since March, it was 2.3 percent higher than September 2016. The last month when home prices did not increase year-over-year was October 2011. Three-quarters of the way through 2017, other notable numbers from the RE/MAX National Housing Report include:

• In the wake of Hurricane Irma in early September, Miami saw home sales drop 35.2 percent year-over-year. Houston, meanwhile, posted a 3.2 percent gain despite the impact of Hurricane Harvey in late August. • Days on Market declined by one week, from 56 in September 2016 to 49.
• At 3.6, the Months Supply of Inventory was the lowest of any September in the report’s 9-year history. Twenty-three markets are at 3 months or less.
• Mirroring this, inventory dropped 14.1 percent year-over-year, with 46 metro areas seeing fewer homes for sale. Year-over-year, inventory has declined every month since November 2008.

Of the 54 metro areas surveyed in September 2017, the overall average number of home sales decreased 14.9 percent compared to August 2017 and decreased 4.2 percent compared to September 2016. Download your copy of the October 2017 RE/MAX National Housing Report here.

If you are looking to sell your Arizona home or are ready to buy a home in a luxury Arizona retirement community, please contact Sharon Mason today.

Your retirement expert,
Sharon Mason
RE/MAX Professionals
623-810-9988
www.RetireArizonaStyle.com
Join Sharon on Facebook or Twitter!

Archives:

My Favorite Blogs:

Sites That Link to This Blog: