National Housing Report for October 2016 

The National Housing Report for October 2016 indicates that the September Median Sales Price of $219,780 was 5.1 percent above a year ago. And in a rare occurrence, not a single metro posted a year-over-year price drop. The average Month’s Supply of Inventory rose from 3.4 in August to 3.9, the highest since February.

“The market usually sees fewer home sales in September, as buyers make a seasonal transition from summer to fall,” said Dave Liniger, RE/MAX CEO, Chairman of the Board and Co-Founder. “Even so, sales were the highest of any September since we launched our Housing Report in 2008. Also, price increases continue to be in the moderate 5-percent year-over-year range. Overall, this is a market that most everyone can be satisfied with.”

If you would like to read the full National Housing Report for October 2016, please click here. The inventory of available homes for sale, still far below the six month’s supply considered to be a market balanced equally between buyers and sellers. Now is a great time to consider selling your home! Give us a call today – Frank

Frank Russo
The Russo Team
RE/MAX Professionals

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