Housing Report

In July, the U.S. economic expansion that began in June 2009 became the longest in the nation’s history, marking 121 straight months of gross domestic product growth and surpassing the 120-month expansion from 1991 to 2001. The average rate of growth during this expansion has been a milder 2.3 percent per year compared to 3.6 percent during the 1990s. Although the economy should continue to perform well for the rest of 2019, most economists see a mild recession on the horizon.

New Listings decreased 10.3 percent for Residential homes but increased 3.0 percent for Townhouse/Condo homes. Pending Sales decreased 3.9 percent for Residential homes but increased 0.6 percent for Townhouse/Condo homes. Inventory decreased 22.7 percent for Residential homes and 10.0 percent for Townhouse/Condo homes.

Median Sales Price increased 3.1 percent to $221,548 for Residential homes and 3.7 percent to $155,500 for Townhouse/Condo homes. Days on Market increased 24.1 percent for Residential homes and 21.1 percent for Townhouse/Condo homes. Months Supply of Inventory decreased 22.9 percent for Residential homes and 5.6 percent for Townhouse/Condo homes.

During the record-setting 121-month economic expansion, the unemployment rate has dropped from 10.0 percent in 2009 to 3.7 percent, yet many consumers continue to struggle financially. Low mortgage interest rates have helped offset low housing affordability, but high home prices are outpacing median household income growth. In a move to stoke continued economic prosperity, the Federal Reserve reduced the benchmark interest rate by a quarter point to about 2.25 percent, marking the first reduction in more than a decade.

 

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2019 Housing Reports Archive

June
June 2019 Infographic
June MARIS Stats

May
May 2019 Infographic
May MARIS Stats

April
April 2019 Infographic
April MARIS Stats

March
March 2019 Infographic
March MARIS Stats

February
February 2019 Infographic
February MARIS Stats

January
January 2019 Infographic
January MARIS Stats

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
October MARIS Stats
October 2018 Video

September
September 2018 News Release
September 2018 Infographic
September MARIS Stats
September 2018 Video

August
August 2018 News Release
August 2018 Infographic
August MARIS Stats
August 2018 Video

July
July 2018 News Release
July 2018 Infographic
July MARIS Stats
July 2018 Video

June
June 2018 News Release
June 2018 Infographic
June MARIS Stats
June 2018 Video

May
May 2018 News Release
May 2018 Infographic
May 2018 MARIS Stats
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

February
February 2018 News Release

February 2018 Infographic
February 2018 MARIS Stats
February 2018 Video