There is a lot going on in the world right now and we won’t pretend to know how things will turn out or affect the local real estate market over the next few months. In the meantime, this report will look at the most recent data available, though the impact of the wild volatility in the financial markets and the unfolding situation with the coronavirus has yet to show up in reliable statistics. Typically, the spring-summer selling season is the most active of the year.
One positive for real estate is that mortgage interest rates hit a historic low in early March, as illustrated below, and rates play a huge role in housing affordability.
Short-Term & Long-Term Trends
in Median Home Sales Prices
Mortgage Interest Rates Hit Historic Low
Home Sales Breakdown
Home Values and Statistics by Market
Update on Rebuilding
Selected Market Indicators
These next 2 charts illustrate both market conditions, but the large role seasonality plays in supply and demand.