March 2019 Monthly Market Indicators March-Monthly-Market-Indicator

Monthly Indicators
March 2019
In addition to the quandary of ongoing housing price increases and affordability
concerns in many U.S. markets, the first quarter of 2019 saw a fair share of adverse
weather as well. Sales totals were mixed across the nation and sometimes
dependent on what was a persistent wintry mix, especially in the Great Plains,
Midwest and Northeast. Meanwhile, new listings and total homes for sale have been
trending lower in year-over-year comparisons in many areas, and last year's marks
were already quite low.
New Listings were down 3.4 percent to 748. Pending Sales decreased 2.3 percent
to 553. Inventory grew 7.4 percent to 2,433 units.
Prices moved higher as Median Sales Price was up 8.7 percent to $325,000. Days
on Market increased 0.7 percent to 139 days. Months Supply of Inventory remained
flat at 5.5, indicating a stabilizing supply-demand balance.
The Federal Reserve recently announced that no further interest rate hikes are
planned for 2019. Given the fact that the federal funds rate has increased nine times
over the past three years, this was welcome news for U.S. consumers, which carry
an approximate average of $6,000 in revolving credit card debt per household. Fed
actions also tend to affect mortgage rates, so the pause in rate hikes was also
welcome news to the residential real estate industry.
Quick Facts
+ 2.9% + 8.7% 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
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Current as of April 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