"Homes are spending an average of 118 days on the market, with a median of 77 days. Total inventory sits at 839,506 properties a slight decline of 0.3% from the previous week. The price per square foot has dipped to $211, continuing a gradual softening trend. About 42% of properties on the market have had a price reduction, while just 2% have seen price increases. Another 10% of listings have been relisted."
"HousingWire's Market Action Index (MAI) sits at 34, signaling a broadly balanced market for buyers and sellers. The index measures balance between supply and demand in the active market, ranging from 0100. The higher the number, the hotter the market. Among major metros, Los AngelesLong BeachSanta Ana, Calif., leads in total market value at $35.5 billion across 11,346 properties. MiamiFort LauderdalePompano Beach, Fla., follows at $32.8 billion with nearly 16,000 properties."
Homes average 118 days on the market with a 77-day median. Total inventory is 839,506 properties, down 0.3% week-over-week, and price per square foot has dipped to $211. Forty-two percent of listings have had price reductions, 2% have raised prices, and 10% have been relisted. Inventory levels have hovered between 840,000 and 860,000 properties, supporting a sense of stability while the national median price slipped from $445,000 over two months. The Market Action Index at 34 signals a broadly balanced market. Florida leads with $93.2 billion in sales volume and a $485,000 median; California follows at $81.9 billion. Los Angeles metro tops total market value, San Diego and San Francisco top median prices, and markets with MAI above 40 show faster transactions while several Florida and Texas markets remain cooler.
Read at www.housingwire.com
Unable to calculate read time
Collection
[
|
...
]