June 2018 Market UpdateAccording to the National Association of REALTORS®, existing home sales declined during the month of April after two consecutive months of growth. While demand remains high, the lack of available homes on the market in many parts of the country has kept housing growth at a slower pace.
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 April. This was a decrease of 2.5 percent from March and a decrease of 1.4 percent from April of last year.
Home Prices The median home price increased to $257,900 in April, which was up 3.2 percent from March and up 5.3 percent from April of last year. The median home price has increased by approximately $12,900 in the past year alone.
Inventory There was a 4.0-month supply of housing inventory in April, which was an increase of 14.3 percent from March. The total number of available homes for sale has decreased by 2.4 percent compared to April of last year.
Brought to you by KW Research. For additional graphs and details, please see the This Month in Real Estate PowerPoint Report.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.