National Market

    Market Insights

    April 2019

    Mortgage Type Rate
    30-Year Fixed 4.28%
    15-Year Fixed 3.71%
    5/1-year ARM 3.84%
    Historical average 8.90%

    Home Sales

    Home sales increased in February after three consecutive months of decline.

    5.51 million

    Seasonally adjusted annual rate of home sales in the United States

     
    1.8%

    since one year ago.

     
    11.8%

    since last month.

    The National Association of REALTORS® reported home sales at a seasonally adjusted annual rate of 5.5 million in February, up 11.8 percent from January, and 1.8 percent below the 5.6 million sales pace from a year ago.

    5.615.515.435.45.395.395.355.185.225.2154.935.51FebMarAprMayJunJulAugSepOctNovDecJanFeb

    Home Prices

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

    $249,500

    Average home price in the United States

     
    3.6%

    since one year ago.

     
    0.1%

    since last month.

    The median home price increased to $249,500 in February, up 0.1 percent from January. The median home price has increased by approximately $8,700 in the past year alone.

    240.8249.8257.9265.1273.8269.3265.6256.9255.1257.4254.7249.3249.5FebMarAprMayJunJulAugSepOctNovDecJanFeb

    Inventory – Month’s Supply

    There was a 3.5-month supply of housing inventory in February 2019, down 10.3 percent from January. The total number of available homes for sale has increased by 2.9 percent compared to February of last year.

    3.43.544.14.34.34.34.44.43.93.73.93.5FebMarAprMayJunJulAugSepOctNovDecJanFeb