Housing Report

While the effects of COVID-19 in the broader economy continue, real estate activity is beginning to recover across much of the country. According to Freddie Mac, mortgage rates have been below 3.3 percent for more than four weeks and are hovering near all-time lows, spurring strong interest by buyers and lifting showing activity up four percent nationally versus a year ago in the final week of May.

New listings decreased 22.2 percent for residential homes and 21.8 percent for townhouse/condo homes. Pending sales decreased 8.4 percent for residential homes and 20.4 percent for townhouse/condo homes. Inventory decreased 26.9 percent for residential homes and 8.5 percent for townhouse/condo homes.

Median sales price remained flat at $220,000 for residential homes but increased one percent to $171,700 for townhouse/condo properties. Days on market decreased 18.2 percent for residential homes and 14 percent for townhouse/condo homes. Months supply of inventory decreased 24.1 percent for residential homes but increased 3.8 percent for townhouse/condo homes.

Buyers have been quicker to return to the housing market in force than sellers, who have been showing a bit more reluctance to list their homes than is typical for this time of year. But trends are improving and as states and localities continue to moderate their COVID-19 policies, real estate activity is expected to continue to improve in the coming weeks.

 

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Housing Report Infographic 01

2020 Housing Reports Archive

April
April 2020 Infographic
April MARIS Stats

March
March 2020 Infographic
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February
February 2020 Infographic
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January
January 2020 Infographic
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2019 Housing Reports Archive

December
December 2019 Infographic
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November
November 2019 Infographic
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October
October 2019 Infographic
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September
September 2019 Infographic
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August
August 2019 Infographic
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July
July 2019 Infographic
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June
June 2019 Infographic
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May
May 2019 Infographic
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April
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March
March 2019 Infographic
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February
February 2019 Infographic
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January
January 2019 Infographic
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2018 Housing Reports Archive

December
December 2018 Infographic
December MARIS Stats

November
November 2018 News Release
November 2018 Infographic
November MARIS Stats
November 2018 Video

October
October 2018 News Release
October 2018 Infographic
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October 2018 Video

September
September 2018 News Release
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September 2018 Video

August
August 2018 News Release
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August 2018 Video

July
July 2018 News Release
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July 2018 Video

June
June 2018 News Release
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June 2018 Video

May
May 2018 News Release
May 2018 Infographic
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May 2018 Video

April
April 2018 News Release
April 2018 Infographic
April 2018 MARIS Stats
April 2018 Video

March
March 2018 News Release
March 2018 Infographic
March 2018 MARIS Stats
March 2018 Video