Daily Real Estate News | Tuesday, November 03, 2015
The overall housing market is showing signs of slowing, but yearly metrics are still solid, according to realtor.com®’s “Advance Read of October Trends.”
“Monthly inventory metrics point to a strong and steady market that has moved into the slower part of the year and reflect a momentum that has shifted to now favor buyers,” says Jonathan Smoke, realtor.com®’s chief economist. “Robust year-over-year housing metrics and traffic show just how far the housing market has come in 2015.”
Read more: 6 Things Fall Home Buyers Should Notice
Here’s a snapshot of findings from realtor.com®’s latest housing report:
- National median list price: $232,000 – holding steady from September but up 6 percent year-over-year
- Median age of inventory: 81 days – up 1 day from September but down by 3 days – or 7 percent – year-over-year
Twenty markets alone are seeing inventory move within 30 to 47 days quicker than the rest of the country. California dominates with 12 of those 20 markets, as tight supplies and strong economies continue to fuel its real estate markets.
According to realtor.com®, the following markets are the 20 hottest markets in the country for October, ranked by number of views per listing on realtor.com® as well as the median age of inventory.
Copyright National Association of REALTORS®. Reprinted with permission.