This Month in Real Estate
 
October 2017 Market Update
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Monthly VideoAccording to the National Association of REALTORS®, existing home sales fell slightly in the month of August. In spite of gains in the job market, rising incomes and strong demand, limited inventory is pushing up prices and edging out certain buyers.
 
 
Interest Rates
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Monthly VideoAccording to Freddie Mac, 30-year fixed rates ticked down from 3.86 percent to 3.83 percent. This rate remains well below the historical average of 8.90 percent.
 
 
Home Sales
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Home Sales Graph
 
The National Association of REALTORS® reported home sales at a seasonally adjusted annual rate of approximately 5.35 million homes during the month of August. This was a decrease of 1.7 percent from July and an increase of 0.2 percent from August of last year.
 
 
Home Prices
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Home Price Graph
 
The median home price decreased to $253,500 in August, which was down 1.8 percent from July and up 5.6 percent from August of last year. The median home price has increased by approximately $13,500 in the past year alone.
 
 
Inventory
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Inventory Graph
 
There was a 4.2-month supply of housing inventory in August, which was flat from July. The total number of available homes for sale has decreased by 6.7 percent compared to August of last year.
 
 
Brought to you by KW Research. For additional graphs and details, please see the This Month in Real Estate PowerPoint Report.The opinions expressed in This Month in Real Estate are intended to supplement opinions on real estate expressed by local and national media, local real estate agents and other expert sources. You should not treat any opinion expressed on This Month in Real Estate as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of opinion. Keller Williams Realty, Inc., does not guarantee and is not responsible for the accuracy or completeness of information, and provides said information without warranties of any kind. All information presented herein is intended and should be used for educational purposes only. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. All investments involve some degree of risk. Keller Williams Realty, Inc., will not be liable for any loss or damage caused by your reliance on information contained in This Month in Real Estate.