August 2020 brought 6.00 million in sales, a median sales price of $310,600, and 3.0 months of inventory. The median sales price is up 11.4% year over year, and inventory is down 1.0 month from August 2020.
The strongest job growth was in New Jersey (3.6%), Missouri (2.7%), Michigan (2.7%), Massachusetts (2.3%), New Hampshire (2.2%), New York (2.1%), Maryland (2.1%), Washington (2.1%), Iowa (2%), and Idaho (1.9%).
In July 2020, pending home sales were up 5.9% month-over-month.
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July 2020 brought 5.86 million in sales, a median sales price of $304,100, and 3.1 months of inventory. The median sales price is up 8.5% year over year, and inventory is down 1.1 months from July 2019.
Showings continue to pick up as they rebound from the coronavirus pandemic. On a year-over-year basis in the Midwest, Northeast and Southern regions showings were up, 14%, 13%, and 6% respectively. Every month SentriLock, LLC provides NAR Research with data on the number of properties shown by a REALTOR®. Lockboxes made by SentriLock, LLC are used in roughly a third of home showings across the nation. Foot traffic has a strong correlation with future contracts and home sales, so it can be viewed as a peek ahead at sales trends two to three months into the future. This infographic shows the latest index data along with trends and changes.
In June 2020, pending home sales were up 16.6% month-over-month.
June 2020 brought 4.72 million in sales, a median sales price of $295,300, and 4.0 months of inventory. The median sales price is up 3.5% year over year, and inventory is down 0.3 months from June 2019.
Let us do all the hard work and take the stress out of your home search: Community knowledge, financial aspects and legal matters – 82% of first-time home buyers say their real estate agent helped them understand the home buying process.
With our years of experience selling, buying and managing hundreds of properties, we’re an excellent resource to consult you on any remodeling projects you have planned. Looking forward to meeting you soon.