National Market

    Market Insights: December 2017

    Home Sales

    Home sales decreased year-over-year.

    5.48 million

    0.9%
    since one year ago

    2.0%
    since last month

     

    Home Price

    Home prices have continued to increase year-over-year.

    $247,000
    Average home price in the United States

    5.5%
    since one year ago

    0.2%
    since last month

     

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    Mortgage Type Rate
    30-Year Fixed 3.90%
    15-Year Fixed 3.30%
    5/1-year ARM 3.32%
    Historical average 8.90%
     

    Home Prices

     

     

    The median home price decreased to $247,000 in October, which was down 0.2 percent from September and up 5.5 percent from October of last year. The median home price has increased by approximately $12,900 in the past year alone.

     

    Home Sales

     

     

    The National Association of REALTORS® reported home sales at a seasonally adjusted annual rate of approximately 5.5 million homes during the month of October. This was an increase of 2.0 percent from September and a decrease of 0.9 percent from October of last year.

     

    Inventory – Month’s Supply

     

    There was a 3.9-month supply of housing inventory in October, which was a 7.1 percent decrease from September. The total number of available homes for sale has decreased by 11.4 percent compared to October of last year.

     

    The opinions expressed in This Month in Real Estate are intended to supplement opinions on real estate expressed by local and national media, local real estate agents and other expert sources. You should not treat any opinion expressed on This Month in Real Estate as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of opinion. Keller Williams Realty, Inc., does not guarantee and is not responsible for the accuracy or completeness of information, and provides said information without warranties of any kind. All information presented herein is intended and should be used for educational purposes only. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. All investments involve some degree of risk. Keller Williams Realty, Inc., will not be liable for any loss or damage caused by your reliance on information contained in This Month in Real Estate.