19.06.2017, 01:29
After a brief dip in April home sales, the U.S. housing market returned to seasonally high sales in May
OREANDA-NEWS. June 19, 2017. After a brief dip in April home sales, the U.S. housing market returned to seasonally high sales in May, increasing 20.6% from the previous month and 4.3% from May 2016, according to the RE/MAX National Housing Report released today. In fact, it was the strongest May in terms of home sales in the nine-year history of the report. To access the housing report infographic, visit rem.ax/2cYFT50.
Median Sales Price – Median of 53 metro median prices
In May 2017, the median of all 53 metro Median Sales Prices was $232,500, up 2.9% from April 2017 and up 3.6% from May 2016. Fargo, ND was the only metro area to see a year-over-year price decrease (-2.73%). Six metro areas increased by double-digit percentages, with the largest increases seen in Manchester, NH +13.2%, Seattle, WA +12.8%, Tampa, FL +12.8%, Las Vegas, NV +10.7% and Dallas/Fort Worth +10.7%.
Days on Market – Average of 53 metro areas
The average Days on Market for homes sold in May 2017 was 51, down six days from the average in April 2017, and down seven days from the May 2016 average. The four metro areas with the lowest Days on Market were Omaha, NE at 20, San Francisco, CA at 21, Seattle, WA at 22 and Denver, CO at 23. The highest Days on Market averages were in Augusta, ME at 136 and Burlington, VT at 98. Days on Market is the number of days between when a home is first listed in an MLS and a sales contract is signed.
In addition, the average number of Days on Market dropped to a record low of 51, consistent with the Months Supply of Inventory shrinking to 2.6 months – both records for the report.
Other notable numbers:
- Over two-thirds of the metro areas experienced an increase in transactions.
- The May 2017 Median Sales Price of $232,500 was the second highest in the history of the report, only behind the August 2008 Media Sales Price of $236,062.
- Decreasing 16.2% from May 2016, inventory continued to decline year-over-year. This is the 103rd consecutive month of year-over-year declines dating back to October 2008.
- The U.S. continues to enjoy rising home values as 52 of the 53 metro areas experienced a price increase.
- Closed Transactions
Median Sales Price – Median of 53 metro median prices
In May 2017, the median of all 53 metro Median Sales Prices was $232,500, up 2.9% from April 2017 and up 3.6% from May 2016. Fargo, ND was the only metro area to see a year-over-year price decrease (-2.73%). Six metro areas increased by double-digit percentages, with the largest increases seen in Manchester, NH +13.2%, Seattle, WA +12.8%, Tampa, FL +12.8%, Las Vegas, NV +10.7% and Dallas/Fort Worth +10.7%.
Days on Market – Average of 53 metro areas
The average Days on Market for homes sold in May 2017 was 51, down six days from the average in April 2017, and down seven days from the May 2016 average. The four metro areas with the lowest Days on Market were Omaha, NE at 20, San Francisco, CA at 21, Seattle, WA at 22 and Denver, CO at 23. The highest Days on Market averages were in Augusta, ME at 136 and Burlington, VT at 98. Days on Market is the number of days between when a home is first listed in an MLS and a sales contract is signed.
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