By Lauren Sieben | Sep 24, 2020
- · Current inventory for sale may be at its lowest level ever.
- · Homes under contract at historical highs.
- · Sold and closed homes reached their second highest level ever in July.
The future remains bright for the industry as strong demand continues especially in low to mid price ranges.
Here is a look at the latest data.
First, a quick look at the last 30 days.
Note that over half the activity is for under contract and closed transactions. Also note that the number of new listings and homes under contract are very close in number.
Here are a few key indicators:
Homes for sale are Down by over 29%. Massive drop from this time last year.
Under contract are Up by over 50%. Huge increase from last July.
Sold last month are Up by over 18%. Even with very low inventory, closed sales are dramatically higher.
Sold in the last 12 months are Down by about 2%. . Interesting. That comes down to a very slow spring. (more about that later)
Average Sold Price are Up by over 1.5%. . It takes quite a while for average prices to rise yet they are quick to fall.
And the Hot Stats.