On February 12, 2019, National Association of Realtor (NAR) reported on nationwide existing home sales declined 1.8% to annual rate of 5.180 million homes at the end of 4th quarter of 2018, from 5.273 million homes at the end of 3rd quarter of 2018, and lower 7.4% from 5.593 homes at the end of 4th quarter of 2017. While, the median single family home price was $257,600 in the 4th quarter of 2018, rose 4.0% from the price of $247,800 in the 4th quarter of 2017.
There were 4.0 months of 1.55 million homes supplies of available inventory at the end of 4th quarter of 2018, higher from 6.2% or 3.5 months of 1.46 million homes supplies of inventory at the end of 4th quarter of 2017.
The most expensive housing market was San Jose-Sunnyvale-Santa Clara, California with a median price of $1,250,000; while the least expensive median single family housing market was Decator, Illinois metro area with an average price of $89,300, in the 4th quarter of 2018, according to Quintin Simmons of NAR on February 12, 2019.
NAR chief economist Lawrance Yun, stated “Housing starts fell far short of historically normal levels, with only 9.6 million new housing units added in the past decade; compared to 15 to 16 million that would have been needed to meet our growing population and 20 million new job additions.
For more complete information, on NAR's 4th quarter of 2018 home sales report, please click HERE
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