We hope you enjoy this Month's Market Update!

 

This Month in Real Estate
 
September 2018 Market Update
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Monthly VideoAccording to the National Association of REALTORS®, existing-home sales subsided for the fourth straight month in July to their slowest pace in over two years. In many areas, potential buyers may be priced out or finding a limited amount of available homes for sale in their desired neighborhood.
 
 
Interest Rates
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Interest RatesAccording to Freddie Mac, 30-year fixed rates decreased from 4.52 percent to 4.51 percent. This rate remains well below the historical average of 8.90 percent.
 
 
Home Sales
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Home Sales Graph
 
The National Association of REALTORS® reported home sales at a seasonally adjusted annual rate of approximately 5.34 million homes during the month of July. This was a decrease of 0.7 percent from June and a decrease of 1.5 percent from July of last year.
 
 
Home Prices
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Home Price Graph
 
The median home price increased to $269,600 in July, which was down 1.5 percent from June and up 4.5 percent from July of last year. The median home price has increased by approximately $11,500 in the past year alone.
 
 
Inventory
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Inventory Graph
 
There was a 4.3-month supply of housing inventory in July, which has been stable since June. The total number of available homes for sale has increased by 2.4 percent compared to July of last year.
 
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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.

 

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