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 2 3 4 5 6 7 8 9 10 11 12 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