Monday, 11 December 2017

This Month in Real Estate July 2017

Written by Posted On Friday, 14 July 2017 17:52
 
This Month in Real Estate
 
July 2017 Market Update
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Monthly VideoAccording to the National Association of REALTORS®, existing home sales grew slightly in the month of May. Low inventory levels supported a healthy median sales price and drove the amount of time the average home spent on the market to a new low of just 27 days.
 
 
Interest Rates
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Monthly VideoAccording to Freddie Mac, 30-year fixed rates ticked down from 3.94 percent to 3.90 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 5.62 million homes during the month of May. This was an increase of 1.1 percent from April and an increase of 2.0 percent from May of last year.
 
 
Home Prices
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Home Price Graph
 
The median home price increased to $252,800 in May, which was up 3.2 percent from April and up 5.8 percent from May of last year. The median home price has increased by approximately $13,900 in the past year alone.
 
 
Inventory
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Inventory Graph
 
There was a 4.2-month supply of housing inventory in May, which was up 2.4 percent from April. The total number of available homes for sale decreased by 10.6 percent compared to May of last year.
 
 
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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Ryan Hardin REALTOR®/BROKER SRES

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Copyright 2017 Keller Williams® Realty, Inc. If you have a brokerage relationship with another agency, this is not intended as a solicitation. All information deemed reliable but not guaranteed. Equal Opportunity Housing Provider. Each office is independently owned and operated. 
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Ryan Hardin

As I licensed real estate broker in Minnesota with Partners Real Estate MN Team at Keller Williams Realty Integrity NW & KW Commercial NW.We are happy provide the full service real estate experience you are looking for.

Whether it's buying, selling or leasing residential or commercial real estate I am always here to provide the best service possible with honest direct communication.

Contact Ryan Hardin today at 612-356-2002 or 612-860-6177.

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