Good News For Homebuyers

Dated: 07/01/2019

Views: 92

In January, the number of homes newly listed for sale rose 4.4% from the previous year, boosting the number of homes for sale up 6.3%, the largest supply increase since May 2015, according to new data from Redfin.

“Things are looking good for buyers in 2019. The supply of homes for sale is increasing faster than it has in nearly four years,” Redfin Chief Economist Daryl Fairweather said. "December was a rough month for home sales, but homeowners appear to be undeterred in the new year as more are listing their homes for sale."

We predicted price growth would slow down and that prices would drop in coastal cities like San Francisco and Seattle, but we didn’t know how sellers would react to a cooler market. It’s encouraging to see that listings are up–it means that sellers aren’t taking the ball and going home,” Fairweather concluded. 

According to Redfin’s analysis, home-sale prices moved forward 2.9% on an annual basis, coming in at a median price of $285,900, Furthermore, home prices fell year over year in 10 of the 81 largest metros, including San Francisco and Portland, signaling a major shift in West Coast markets.

Nationally, completed home sales retreated for the sixth consecutive month, and declined 7.6% from the same time period a year prior. In fact, home sales fell in 57 of the 81 largest housing markets.

“In January 16.7% of homes sold above the list price, down from 20.2% in January 2018, and the smallest share recorded in four years,” Redfin continued. “Meanwhile 23.2% of homes on the market in January had a price drop, up from January 2018’s share of 18.9%. The share of homes that went under contract within two weeks dipped to 13.3%in January, down from the January 2018 level of 16.1%.”

Blog author image

Steven Jackson

Steven helps Clients buy and sell vacation and second home properties along 30A and South Walton, giving them confidence in a local, reputable Agent. Steven’s work ethic begins by being of maximum ....

Latest Blog Posts

Seaside School Half Marathon

Seaside Half Marathon & 5Kby Murray BalkcomJoin thousands of other runners for the 18th Annual Seaside Half Marathon & 5K on Sunday, March 1, 2020. Visit early and enjoy the entire race weekend

Read More

New Gym In Santa Rosa Beach

So maybe this post has little to do with Real Estate, however, It's another step in the right direction for helping our kids and teens explore new activities in the area.  We used to Drive

Read More

Watch Out For Falling Price On Seascape 3BR

Want to see the lowest priced 3BR in Seascape this weekend?   Call a Local today to schedule your private showing, you'll be glad you:)

Read More

Move To Florida

Study: Florida No. 1 in Welcoming New ResidentsLendingtree.com: In 2016, new residents brought $30.2 billion into Fla., with about 72% of that increased income coming from new residents age 55 and

Read More