January 2019 Monthly Indicators January-Monthly-Market-Indicator
Monthly Indicators
January 2019
Despite a strong U.S. economy, historically low unemployment and steady wage
growth, home sales began to slow across the nation late last year. Blame was given
to a combination of high prices and a steady stream of interest rate hikes by the
Federal Reserve. This month, the Fed responded to the growing affordability
conundrum. In a move described as a patient approach to further rate changes, the
Fed did not increase rates during January 2019.
New Listings were up 23.9 percent to 611. Pending Sales increased 16.5 percent to
430. Inventory grew 10.0 percent to 2,262 units.
Prices were stable as Median Sales Price decreased slightly to $327,993. Days on
Market decreased 8.5 percent to 140 days. Months Supply of Inventory remained
flat at 5.1
While the home affordability topic will continue to set the tone for the 2019 housing
market, early signs point to an improving inventory situation, including in several
markets that are beginning to show regular year-over-year percentage increases.
As motivated sellers attempt to get a jump on annual goals, many new listings enter
the market immediately after the turn of a calendar year. If home price appreciation
falls more in line with wage growth, and rates can hold firm, consumer confidence
and affordability are likely to improve.
Quick Facts
- 1.3% - 0.0% 0.0%
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, 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