March is traditionally the harbinger of the busy home-buying and selling season. Last month followed that annual tradition but at a much slower pace in comparison to the past few years, in accordance with the latest RE/MAX National Housing Report.
Housing Market is Re-balancing; It’s an excellent thing!
Home sales this past month were 8.6% below sales during March 2018. But should home sellers be worried? RE/MAX CEO Adam Contos has said the current re-balancing of the national housing market is healthy for the industry since the demand among buyers and sellers is slowly equaling. The report also discovered that the average months supply of inventory – the length of time it would take for every home currently on the market to sell if no other homes are listed – was 2.7 months. A balanced housing market is inventory of 6 months and up.
Here are a few highlights of the latest data seen in the RE/MAX National Housing Report:
Homes sales in March were the slowest start to spring home-buying in 5 years.
From 2015 to 2018, the housing market’s spring sprang to life with a boost in sales from February to March averaging 37.0%. March 2019’s month-over-month increase of 28.8% was the lowest since 24.6% in 2014.
Inventory is up. Transactions are down.
March was the eighth consecutive month of year-over-year sales declines and the sixth straight month of year-over-year inventory growth, with a 5.3% gain.
Most homes are increasing in value, but at a slower pace.
Housing activity in the report’s 54 markets nationwide also saw the Median Sales price grow by 3.4% year-over-year – notably smaller than the year-over-year increases in February (5.5%) and January (4.6%).
To see the complete March 2019 RE/MAX National Housing Report.
Nick & Cindy Davis with RE/MAX Premier Group are here to assist you with all your Real Estate Needs. We are always available at 813-300-7116 to answer your questions or you can simply click here and we will be in touch with you shortly.
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Lot Size14.47 ac
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Home Size700 sqft
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Beds1 Bed
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Baths1 Bath
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Year Built1976
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Days on Market1
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Lot Size7,406 sqft
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Home Size1,278 sqft
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Beds2 Beds
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Baths2 Baths
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Year Built1952
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Days on Market1
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Lot Size3.40 ac
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Home Size4,221 sqft
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Beds5 Beds
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Baths5 Baths
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Year Built2006
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Days on Market1
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Lot Size26,136 sqft
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Home Size3,050 sqft
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Beds4 Beds
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Baths2 Baths
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Year Built2019
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Days on Market1
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Lot Size8,277 sqft
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Home Size798 sqft
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Beds2 Beds
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Baths1 Bath
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Year Built1948
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Days on Market1
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Lot Size6,099 sqft
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Home Size1,202 sqft
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Beds4 Beds
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Baths2 Baths
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Year Built1950
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Days on Market1
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Lot Size1,743 sqft
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Home Size1,667 sqft
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Beds3 Beds
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Baths3 Baths
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Year Built2024
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Days on Market1
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Lot Size14,811 sqft
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Home Size3,130 sqft
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Beds4 Beds
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Baths3 Baths
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Year Built2010
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Days on Market1
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Lot Size2,178 sqft
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Home Size854 sqft
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Beds3 Beds
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Baths2 Baths
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Year Built1963
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Days on Market1
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Lot Size1,307 sqft
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Home Size1,407 sqft
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Beds2 Beds
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Baths3 Baths
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Year Built2007
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Days on Market1
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Lot Size1,307 sqft
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Home Size1,816 sqft
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Beds3 Beds
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Baths3 Baths
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Year Built2022
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Days on Market1
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(all data current as of
4/24/2024)
Listing information deemed reliable but not guaranteed. Read full disclaimer.