April 2018 National Housing Report

If you are looking for a new home, chances are you’re not finding many homes on the market. If you’re a seller, you have likely noticed the value of your home is rising — no matter what part of the country you live in. According to the April 2018 RE/MAX National Housing Report, home prices continued to climb year-over-year for the twenty-fourth consecutive month in March, while home sales continued to decline for a fourth consecutive month, making it a seller’s market in most regions of the country.

“Homebuyers shouldn’t be discouraged by the record-breaking numbers — even with higher prices and closed transactions, this March marks the second-highest in sales in the history of the RE/MAX National Housing Report,” said RE/MAX CEO Adam Contos. “It’s more important than ever to work with an experienced RE/MAX agent who is invested and involved in their community. They are dialed into the nuances of a neighborhood, making your home search or sale easier and quicker. We also look at the Days on Market as another indicator of tight inventory and the national average stands at 60 days. That’s four days less than a year ago and another March record-breaker.” “

Of the fifty-four metro areas surveyed in March 2018, the overall average number of home sales increased +36.6 percent compared to February 2018 and decreased -5.3 percent compared to March 2017. In March 2018, the median of all fifty-four metro Median Sales Prices was $236,000, up +3.2 percent from February 2018 and up +4.9 percent from March 2017. The average Days on Market for homes sold in March 2018 was sixty, down two days from the average in February 2018, and down four days from the March 2017 average. Days on Market is the number of days between when a home is first listed in an MLS and a sales contract is signed. To access the housing report infographic, visit: https://rem.ax/2phKHWT or click here to download a copy of the RE/MAX April 2018 National Housing Report

Looking to sell your Phoenix home or buy a home in Phoenix? Contact The Russo Team today and receive a complimentary analysis of your home’s approximate present value on the market today. Your complete satisfaction with our service and representation is always our number one priority!

Frank Russo

Russo Team

RE/MAX Professionals

www.RussoTeam.com

602-864-1200

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