January Home Sales Down 3.5%

Home sales for January 2019 are down by 3.5% and continuing from the end of 2018.  There were 1,008 homes sold in January, that’s 37 less than January 2018. It is very difficult to predict the upcoming market based on January sales.  Because the winter months typically have historically low sales.  Out of about 20,000 total sales in each of the last 3 years, there were between 933-1,045 sales in January.

However, Jan 2019 was the 7th month out of the last 9 months with low sales, going all the way back to May 2018.

Because of the lack of affordable inventory in 2018, brokers feel like it plays a role in the low sales for January 2019. There are lots of first time home buyers and empty nesters looking to buy. Inventory is just to low under $300,000. See the results yourself in this graph.  It is a sellers market NOW

Agent

Marciniak Team

Marciniak Team

Phone414-604-1427