Market Update For Week Ending June 20, 2020
Housing starts in May rose 4.3% to an annual rate of 974,000, its first increase since January and up from a five-year low of 934,000 in April. The increase was less than expected by economists but builder permits were up 14.4% for the month to 1.22 million annually, signaling higher housing starts are likely in the near future.
For the week ending June 20:
- New Listings increased 4.5% to 374
- Pending Sales increased 18.0% to 387
- Inventory decreased 30.8% to 2,301
For the month of May:
- Median Sales Price increased 12.7% to $224,500
- Days on Market decreased 21.1% to 45
- Pct of List Price Rec’d increased 0.8% to 98.8%
- Months Supply decreased 30.0% to 2.1
