Market Update For Week Ending July 25, 2020
The Mortgage Bankers Association reported that their Purchase Index of mortgage applications was 19 percent higher than the same week one year ago. Continued high levels of home purchase mortgage applications suggests that home buyer interest and activity will remain strong in the coming weeks.
For the week ending July 18:
- New Listings increased 7.08% to 365
- Pending Sales increased 30.1% to 398
- Inventory decreased 34.8% to 2,124
For the month of June:
- Median Sales Price increased 10.6% to $229,900
- Days on Market decreased 23.5% to 39
- Pct of List Price Rec’d increased 1.0% to 99.1%
- Months Supply decreased 40.0% to 1.8
