RE/MAX National Housing Report - October 2015

After a hot summer selling season, September home sales followed an expected seasonal trend and cooled off 8.6 percent lower than August, but were still 6.8 percent higher than September 2014. The number of completed transactions was the highest seen in the month of September since the RE/MAX National Housing Report began collecting data in 2008. Based on the report’s MLS data from 53 metropolitan areas, the Median Sales Price for homes sold in September was $209,000, which is 7.2 percent above the price one year ago. The inventory of homes for sale still challenges this market at a level 12.8 percent less than September 2014. At the rate of home sales in September, the Months Supply of inventory was 4.5, nearly the same as the 4.9 average last September.

“Home sales usually cool down in the fall and it looks like this year is no exception, but September is falling right in line with the summer months with sales much higher than last year. Prices are also moderating on a month-to-month basis, and mortgage rates remain low. This translates to more attractive home affordability.” Dave Liniger, RE/MAX CEO, Chairman of the Board and Co-Founder.

If you are interest in finding out what your home is worth, please contact Nate today. 

Nate Martinez, RE/MAX Professionals

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