May 2016 RE/MAX National Housing Report

DENVER (May 17, 2016) With the 2016 home-buying season just starting, April sales saw a 7.5% increase over March and a 3.2% rise over April last year, which nearly matches the average year-over-year sales increase of 4.3% so far in 2016. The Median Sales Price in April was $215,000, which was 5.4% higher than one year ago and 7.5% above the median price in March. The inventory of homes for sale remains very tight in many markets across the country, with the April inventory 15.2% lower than April 2015. At the rate of home sales in April, the national Months Supply of Inventory was 3.2, down from 3.7 in March.

“Even though inventory remained tight, April still saw a demand for homes at a level higher than one year ago. Homebuyers realize that interest rates are historically low and mortgage accessibility appears to be improving along with the overall economy. Price increases make it possible for homeowners to feel comfortable selling, but they aren’t at a level that keeps first-time buyers out of the market,” said Dave Liniger, RE/MAX CEO, Chairman of the Board and Co-Founder.

“The steady annual increase in home values shows sustainable growth and an improving economy. We always look for gains to be similar to inflationary growth while avoiding the hikes that could lead to bubble fears. We’re currently in that range, which should come as a more comforting sign to many homeowners,” added Bob Walters, Quicken Loans, Chief Economist.

Read the full May Housing Report by clicking here.


Please contact us  to help you to sell your home and find the home of your dreams!  We specialize in Laguna Beach, Newport Beach, Dana Point, San Clemente and our inland coastal communities.

Make it a great day!

Jeff

rm logo

Your Name (required)

Your Email (required)

Subject

Your Message

This question is for testing whether or not you are a human visitor and to prevent automated spam submissions.
captcha

Leave a Reply

Your email address will not be published. Required fields are marked *