Housing Report

In 2019 home prices were up again in most markets. Buyer demand continues to be strong but with tepid seller activity still in many locations, total sales are lower than they would normally be in a more balanced market. While up from their recent lows a few months ago, mortgage rates end the year close to three-quarters of a percent lower than a year ago, helping to improve affordability and offset rising home prices.

New listings increased five percent for residential homes and 22.5 percent for townhouse/condo homes. Pending sales decreased 5.6 percent for residential homes and 15.3 percent for townhouse/condo homes. Inventory decreased 21.9 percent for residential homes and 9.4 percent for townhouse/condo homes.

Median sales price increased 11 percent to $205,700 for residential homes and 9.3 percent to $167,300 for townhouse/condo homes. Days on market remained flat for residential homes but increased 14.6 percent for townhouse/condo properties. Months supply of inventory decreased 20.0 percent for residential homes and 9.7 percent for townhouse/condo homes.

With low mortgage rates, low unemployment, and continued wage growth, home buyer activity is expected to remain healthy into the new year. New construction has been on the rise in 2019 and is expected to continue into 2020, but many experts note that the country is still not building enough new units to quench demand. It remains to be seen whether existing homeowners will be enticed to sell by higher home prices, which could finally bring the overall housing market into greater balance.

 

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Housing Report Infographic 01

2019 Housing Reports Archive

November
November 2019 Infographic
November MARIS Stats

October
October 2019 Infographic
October MARIS Stats

September
September 2019 Infographic
September MARIS Stats

August
August 2019 Infographic
August MARIS Stats

July
July 2019 Infographic
July MARIS Stats

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