November 2019 Monthly Indicators November-Monthly-Market-Indicator (3)

Monthly Indicators
November 2019
In November, the Federal Reserve reduced its benchmark rate for the third time this
year. This action was widely anticipated by the market. Mortgage rates have
remained steady this month and are still down more than 1 percent from last year at
this time. Residential new construction activity continues to rise nationally. The U.S.
Commerce Department reports that new housing permits rose 5% in October to a
new 12-year high of 1.46 million units.
New Listings were down 10.3 percent to 478. Pending Sales increased 10.5 percent
to 412. Inventory shrank 11.2 percent to 2,120 units.
Prices moved lower as Median Sales Price was down 5.4 percent to $304,990. Days
on Market increased 5.2 percent to 141 days. Months Supply of Inventory was down
18.2 percent to 4.5 months, indicating that demand increased relative to supply.
While many economic signs are quite strong, total household debt has been rising
for twenty-one consecutive quarters and is now $1.3 trillion higher than the previous
peak of $12.68 trillion in 2008. While delinquency rates remain low across most debt
types (including mortgages), higher consumer debt loads can limit future household
spending capability and increase risk if the economy slows down.
Quick Facts
- 1.1% - 5.4% - 18.2%
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 December 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