Friday
July 21, 2017

July/August 2017 Market Pulse

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July/August 2017 Market Pulse

A glimpse at the current state of the housing market.
house tied to $ balloons in sky

The economy is hanging in there and job growth remains solid, so markets are seeing an uptick in first-time buyers. They comprised 34 percent of sales in April, up from 32 percent in March and 29 percent a year ago. Inventories remain low, though, so buyers are competing for a relatively small number of properties. As a result, days on market has plunged to an all-time low, a median of just 29 days, down from 39 days a year ago. 

Who’s buying?
The share of home buyers coming from the ranks of renters has steadily increased over the last three years, while the percentage of move-up buyers continues to slip.

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