This Month in Real Estate: May 2018

Real estate video update for may 2018

Real Estate News for May 2018

The Indigo Skye Group is happy to bring you the Real Estate News update for May 2018. Each month we share on our blog and social media networks  the latest information and market insights we have available. In this update you get a birds-eye view of home sales, home prices, inventory and the most popular mortgage types and rates.

Real estate market insights update for may 2018

Home Prices

The median home price increased to $250,400 in March, which was up 3.9 percent from February and up 5.8 percent from March of last year. The median home price has increased by approximately $13,800 in the past year alone.

Home Sales

The National Association of REALTORS® reported home sales at a seasonally adjusted annual rate of approximately 5.6 million homes during the month of March. This was an increase of 1.1 percent from February and a decrease of 1.2 percent from March of last year.

Home Inventory – Months Supply

There was a 3.6-month supply of housing inventory in March, which was an increase of 5.9 percent from February. The total number of available homes for sale has decreased by 5.3 percent compared to March of last year.

Mortgage Rates

 

Related article Selling Your House on Your Own Could Cost You.

Thanks for stopping by the Indigo Skye Group blog! Be sure to check the blog weekly for more informational and educational articles about real estate.

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