Here's your one minute housing market video update from RE/MAX for August 2017 using July 2017 housing data based on 54 metro areas around the country.
July 2017 was a strong month nationally with homes selling at a faster rate than any month in nearly a decade, despite a slight decrease in closed sales. As we entered the second half of the year, the U.S. housing market appeared to be on pace for another record year. Low inventory resulted in higher sales prices. Year-over-year, inventory has declined every month since November 2008 and the months supply of nventory hovered at 3.1 months, a new July low.
- Home sales down 0.8%
- Median price of homes sold up 7.4% to $239,500
- Average days on market were down by 8 days to 45 days
- Number of homes for sale down 14.1%
Home buyer demand remains strong. There simply are not enough sellers listing their homes, despite rising prices and increasing interest rates.
So, is now the right time to sell your Charlotte metro area home? That depends on your motivation. If you'd like to have a quick conversation about that please contact Carolinas Realty Partners with RE/MAX Executive. We'd be delighted to explore the pros and cons of listing your home now versus waiting.
This monthly RE/MAX National Housing Report for August 2017 is brought to you by Nina Hollander and Carolinas Realty Partners with RE/MAX Executive, your Charlotte metro area real estate consultants.
If you are considering purchasing or selling a home in the Charlotte metro area, I would love an opportunity to earn your business, exceed your expectations, and to prove to you that:
Clock Image courtesy of fotographic1980 at FreeDigitalPhotos.net
Originally posted at: http://activerain.com/blogsview/5101832/one-minute-housing-market-video-update-from-re-max--august-2017