January 2020 Market Indicators January-Month-Market-Indicator

Monthly Indicators
January 2020
For 2020, The National Association of REALTORS® Chief Economist Lawrence Yun
sees good news for home prices. “National median home price growth is in no
danger of falling due to inventory shortages and will rise by 4%,” the long-term NAR
economist predicts. He is also expecting the new-home construction market sales
to increase 10%. Yun and others would like to see home builders bring more
affordable units to market to help ease shortages and slow price gains in that
segment.
New Listings were down 1.3 percent to 603. Pending Sales increased 16.5 percent
to 474. Inventory shrank 12.3 percent to 2,059 units.
Prices moved higher as Median Sales Price was up 3.9 percent to $335,500. Days
on Market decreased 2.9 percent to 136 days. Months Supply of Inventory was
down 20.4 percent to 4.3 months, indicating that demand increased relative to
supply.
We start off the year with continued low interest rates, low unemployment, and rising
rents nationally. These factors should encourage healthy buyer demand and sets us
up for a strong start to the 2020 housing market and a lot of optimism for the
coming spring market.
Quick Facts
+ 4.1% + 3.9% - 20.4%
One-Year Change in
Closed Sales One-Year Change in
Median Sales Price One-Year Change in
Months Supply
A research tool provided by the Hilton Head Association of REALTORS®.
Percent changes are calculated using rounded figures.
Market Overview
New Listings
Pending Sales
Closed Sales
Days on Market Until Sale
Median Sales Price
Average Sales Price
Percent of List Price Received
Housing Affordability Index
Inventory of Homes for Sale
Months Supply of Inventory
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Current as of February 10, 2020. Data is Copyright © 2020 All Rights Reserved. MLS of Hilton Head Island. Provided by the Hilton Head Area Association of REALTORS® and South Carolina REALTORS®. Report © 2020 ShowingTime. | 1