Weekly Real Estate Activity Report: June 6
Posted on 06/15/2020
Market Update For Week Ending June 6, 2020
Continued low mortgage rates have boosted mortgage applications from prospective home buyers. The Mortgage Bankers Association reported that mortgage applications to purchase a home rose 5% last week, which is 18% higher than applications a year ago. Mortgage applications were down as much as 35% from a year prior just six weeks ago, showing an incredible rebound from the impact of COVID-19.
For the week ending June 6:
- New Listings decreased 3.7% to 336
- Pending Sales increased 32.4% to 396
- Inventory decreased 27.5% to 2,388
For the month of May:
- Median Sales Price increased 12.5% to $223,900
- Days on Market decreased 21.1% to 45
- Pct of List Price Rec’d increased 0.8% to 98.8%
- Months Supply decreased 33.3% to 2.0
