3 Top Trends Spotted In The REMAX National Housing Report For October 2018

Dated: 11/30/2018

Views: 13


Image title


3 Top Trends Spotted in the RE/MAX National Housing Report for October 2018

Inventory increased as home sales dropped for the third month, according to the October 2018 RE/MAX National Housing Report.

“The market continues to move toward equilibrium. The modest inventory increase is a much welcome sign for buyers,” said RE/MAX CEO Adam Contos. “Although home sales were down year-over-year, it’s encouraging to see the magnitude of the decline decrease from the sharp drop we witnessed in September. The trend of easing price increases remains and that’s also a positive.”

  1. Inventory Rebounds
    The third consecutive month of lower year-over-year home sales in October contributed to the first year-over-year inventory increase in a decade according to the housing report from RE/MAX.

  2. Home Sales Dropped
    The housing report for October saw sales decline 4.6 percent from a year ago – compared to sales drops of 11.6 percent in September and 1.1 percent in August – and was the eighth month of 2018 to record lower sales than 2017.

  3. Median Sales Price Increased 

    October’s Median Sales Price of $236,000 marked the 31st consecutive month of year-over-year price increases and was the highest October price in the 10-year history of the report. Even so, the 4.9 percent gain was the third-lowest year-over-year growth of 2018.

“The imbalance that has defined this market for so long continues to moderate,” added Contos. “However, it will take some time to recalibrate. Rising prices and interest rates and tight inventory levels continue. Buyer and seller expectations still appear to be a bit mismatched suggesting a choppy market remains in place.”

For specific data in this report or to request an interview with RE/MAX agents and brokers, please reach out to the RE/MAX communications team at newsroom@remax.com.

Want to Advertise on this Site?

Latest Blog Posts

The Christmas Train In Alvin

THE CHRISTMAS TRAIN VICTORY CAMP – ALVIN ,TXEach year in December hundreds of volunteers from LS Church and Victory Camp come together to setup and host the Christmas Train at

Read More

9 Ways To Share The Spirit Of The Season Starting From Home

The holiday season is upon us, and many of us have already begun to celebrate. From trimming trees to lighting candles, it’s the time of year to fill your homes (and hearts) with holiday joy.But

Read More

4 Cozy Cabins In Greater Houston

Don't just dream about cabin life — make it yours! A cabin is the perfect space to get away from it all, unplug the electronics, and enjoy the great outdoors with friends and family. But if

Read More