June 2019 Monthly Market Indicators June-Monthly-Market-Indicator (1)
Monthly Indicators
June 2019
Quick Facts
As was widely expected, the Federal Reserve did not change the target range for
the federal funds rate – currently set at 2.25 to 2.5 percent – during their June
meeting. Although the economy is still performing well due to factors such as low
unemployment and solid retail sales, uncertainty remains regarding trade tensions,
slowed manufacturing and meek business investments.
New Listings were down 5.0 percent to 587. Pending Sales increased 21.4 percent
to 533. Inventory remained flat at 2,326.
Prices moved higher as Median Sales Price was up 7.1 percent to $330,000. Days
on Market increased 3.1 percent to 133 days. Months Supply of Inventory was down
5.5 percent to 5.2 months, indicating that demand increased relative to supply.
In terms of relative balance between buyer and seller interests, residential real estate
markets across the country are performing well within an economic expansion that
will become the longest in U.S. history in July. However, there are signs of a slowing
economy. The Federal Reserve considers 2.0 percent a healthy inflation rate, but the
U.S. is expected to remain below that this year. The Fed has received pressure from
the White House to cut rates in order to spur further economic activity, and the
possibility of a rate reduction in 2019 is definitely in play following a string of
increases over the last several years.
- 14.8% + 7.1% - 5.5%
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 July 10, 2019. Data is Copyright © 2019 All Rights Reserved. MLS of Hilton Head Island. Provided by the Hilton Head Area Association of REALTORS® and South Carolina REALTORS®. Report © 2019 ShowingTime. | 1