Chris & Renee Chaback - Broker Associates
BSBI Partners @ Keller Williams Realty

We hope you enjoy this Month's Market Update!

 

This Month in Real Estate
 
May 2020 Market Update
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Monthly Video

According to the National Association of REALTORS®, existing home sales decreased substantially in March 2020 over the previous month.

 
Interest Rates
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Interest RatesAccording to Freddie Mac, 30-year fixed rates decreased to 3.31% in March from 3.50% in February. This rate remains well below the historical average of 8.90%.
 

 
Home Sales
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Home Sales Graph
 
The National Association of REALTORS® reported home sales at a seasonally adjusted annual rate of 5.27 million in March, down 8.5% from February and 1.2% above the 5.21 million sales pace from a year ago.
 
Home Prices
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Home Price Graph
 
The median home price increased to $280,600 in March, up 3.7% from February. The median home price has increased by 8.0% in the past year alone.
 
Inventory
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Inventory Graph
 
There was a 3.4-month supply of housing inventory in March 2020 that has increased since February. The total number of available homes for sale has decreased by 12.8% compared to March 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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 Chris & Renee Chaback