A M. Appraisals Blog

February 26th, 2024 5:39 AM
MARKET OVERVIEW:



NEW LISTINGS:



CLOSED SALES:



DAYS ON MARKET UNTIL SALE:



AVERAGE SALES PRICE:



PERCENT OF LIST PRICE RECEIVED:



HOUSING AFFORDABILITY INDEX:



INVENTORY OF HOMES FOR SALE:



PENDING SALES (BY PRICE RANGE, BEDROOM COUNT, & PROPERTY TYPE):



CLOSED SALES (BY PRICE RANGE, BEDROOM COUNT, & PROPERTY TYPE):




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Posted by Ashley Martin on February 26th, 2024 5:39 AMLeave a Comment

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February 6th, 2023 6:22 AM

HOUSING SUPPLY OVERVIEW

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In an effort to attract buyers amid slowing traffic and declining home
sales, U.S. homebuilders have been increasingly reducing prices &
offering sales incentives this year. According to the National Association
of Home Builders, 36% of single-family homebuilders reported cutting
prices as of last measure, with an average price reduction of 6%.
Meanwhile, 59% of builders reported offering sales incentives, including
price discounts, paying closing costs or fees, and offering free upgrades
or price discounts, among others. For the 12-month period spanning
January 2022 - December 2022, Pending Sales in the CMLS region
were down 15.0 percent overall. The price range with the largest gain in
sales was the $300,001 & Above range, where they increased 12.6%.

MONTHLY MARKET INDICATORS

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2022 was a turbulent year for the US housing market, as inflation, soaring interest rates, and elevated sales prices combined to cause a slowdown nationwide. Affordability challenges continue to limit market activity, with pending home sales and existing-home sales down month-over-month and falling 37.8% and 35.4% year-over- year, respectively, according to the National Association of REALTORS® (NAR). Higher mortgage rates are also impacting prospective sellers, many of whom have locked in historically low rates and have chosen to wait until market conditions improve before selling their home.

New Listings were down 14.6 percent to 858. Pending Sales decreased 13.9 percent to 840. Inventory grew 38.2 percent to 1,843 units.




Posted in:General
Posted by Ashley Martin on February 6th, 2023 6:22 AMLeave a Comment

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The U.S. housing market has continued to cool, as rising mortgage rates and record- high sales prices have stifled affordability, weakening demand and pricing out a multitude of buyers. Nationally, median household income has failed to keep pace with increasing mortgage payments, with the costs of buying a home about 80% more expensive now than they were just three summers ago, according to the National Association of REALTORS® (NAR). As more and more prospective buyers find their home purchase plans delayed, many are turning to the rental market, where competition has intensified due to increased demand.

New Listings were down 16.2 percent to 1,621. Pending Sales decreased 14.5 percent to 1,306. Inventory grew 32.6 percent to 1,982 units.

Prices moved higher as Median Sales Price was up 20.0 percent to $274,818. Days on Market increased 23.5 percent to 21 days. Months Supply of Inventory was up 36.4 percent to 1.5 months, indicating that supply increased relative to demand.

At a time of year when homebuying activity is typically very strong, soaring homeownership costs have caused home sales to decline nationwide for the fifth consecutive month, with existing-home sales falling 5.4% month-to-month and 14.2% year-over-year as of last measure, according to NAR. But there is a bright spot. Inventory of existing homes has continued to climb this summer, with 1.26 million homes available at the beginning of July, equivalent to a 3 months’ supply. And despite the summer slowdown, homes are still selling quickly, with the typical home staying on market an average of 14 days.


Posted by Ashley Martin on August 17th, 2022 9:56 AMLeave a Comment

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This year, 2020, has truly been unique in many ways. As we reached the halfway point, here are a few NATIONAL/INTERNATIONAL stats that have affected the current economic state of affairs and led to a hot real estate market:

Key Economic Data and Events in July 2020
  • The last FOMC Meeting concluded with the Fed continuing its current Monetary Policy
  • 2nd Quarter GDP showed the Economy Contracted 32.9%
  • The Economy added 4.8 million jobs, and the Unemployment Rate fell to 11.1%
  • The 10 Year Treasury Security yield is bouncing around 0.6%
Housing Market Data Released in July 2020
  • Existing Home Sales (closed deals in June) rose 20.7% to an annual rate of 4,720,000 homes, down 11.3% in the last 12 months. The median price for all types of homes is $295,300 - up 3.5% from a year ago. The median Single Family Home price is $298,600 and $262,700 for a condo. First Time Buyers were 35%, Investors 9%, Cash Buyers 16%. Homes were on the market for an average of 24 days, and 62% were on the market for less than a month. Currently, 1,570,000 homes are for sale, down 18.2% from 1,920,000 units a year ago.
  • New Home Sales (signed contracts in June) rose 13.8% to a seasonally adjusted annual rate of 776,000 homes - up 6.9% YoY. The median New Home price is $329,200, and the average is $384,700. There are 307,000 New Homes for sale, which is a 4.7 month supply.
  • Pending Home Sales Index (signed contracts in June) rose 16.6%, up 6.3% YoY.  
  • Building Permits (issued in June) rose 2.1% to a seasonally adjusted annual rate of 1,241,000 - down 2.5% YoY. Single-Family Permits rose 11.8% to an annual pace of 834,000 units, down 1.1% YoY.    
  • Housing Starts (excavation began in June) rose 17.3% to an annual adjusted rate of 1,186,000 units - down 4.9% YoY. Single-Family Starts rose 17.2% to 831,000 units - down 3.9% in the last 12 months. 
  • Housing Completions (issued in June) rose 4.3 to an annual adjusted rate of 1,250,000 - up 5.1% YoY. Single Family Completions rose 9.6% to 910,000 units - up 4.0% in the last 12 months.
  • S&P/Case-Shiller 20 City Composite Home Price Index rose 0.04% in May, up 3.7% YoY. 
  • FHFA Home Price Index fell 0.3% in May, now up 4.9% YoY. 
Labor Market Economic Data Released in July 2020
  • The Economy added 4,800,000 Jobs in June
  • The Unemployment Rate fell to 11.1% in June from 13.3% the previous month                                                                                   
  • The Labor Force Participation Rate rose to 61.5% in June from 60.8% the previous month The Average Hourly Wage fell 1.2% in June, up 5.0% YoY
Inflation Economic Data Released in July 2020
  • CPI rose 0.6%, up 0.6% in the last 12 months
  • Core CPI (ex-food & energy) rose 0.2%, up 1.2% in the last 12 months
  • PPI fell 0.2%, down 0.8% in the last 12 months
  • Core PPI (ex-food & energy) fell 0.3%, down 0.1% in the last 12 months
GDP Economic Data Released in July 2020
  • Retail Sales rose 7.5% during June, now up 1.1% in the last 12 months
  • Consumer Confidence Index fell to 92.6 from 98.1 the prior month         
  • Consumer Sentiment Index (U of M ) fell to 72.5 from 78.1 the previous month 
Energy, International, and Things You May Have Missed   
Oil Prices are up slightly as they bounce around $42 a barrel. WTI Crude (West Texas Intermediate) is trading around $41/barrel, and Brent Crude is trading around $44/barrel.
  • The US Dollar weakened against the Euro, now about $1.18 vs the Euro.
  • The USMCA (US Mexico Canada Agreement) became effective July 1.
  • Eurozone GDP dropped 12.1% in the 2nd quarter. Germany's GDP was down 10.1%, France down 13.8%, Italy down 12.4%, Spain down 18.5%.
  • China's GDP grew 3.2% YoY in the 2nd quarter - if you can trust their data.
 
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The material provided is for informational and educational purposes only and should not be construed as investment, legal, financial, or mortgage advice. The information is gathered from sources believed to be credible. The source for most of the information, Act Appraisal Inc and Mortgage Elements Inc, do not guarantee or warrant its completeness or accuracy and there is no guarantee it is without errors.

Posted in:General
Posted by Ashley Martin on August 6th, 2020 6:01 AMLeave a Comment

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MEDIAN SALES PRICES







Here is a link to current market activity for the COLUMBIA MLS market by area for November 2019:

https://files.constantcontact.com/b2ef073b701/93375195-04f3-46ac-9155-f198447b006c.pdf






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Posted by Ashley Martin on December 18th, 2019 8:32 AMLeave a Comment

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January 5th, 2017 8:21 AM

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Posted by Ashley Martin on January 5th, 2017 8:21 AMLeave a Comment

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  New Listings Sold Listings    
Area Available Inventory New Avg List Price Pending Sales Avg Sale Price % SP/LP Avg DOM Withdrawn Expired
Area 001 2,741 2,120 172,852 1,554 1,458 156,201 96.68 72 438 288
Area 002 1,684 1,293 151,041 1,019 966 141,544 96.67 80 243 145
Area 003 945 681 114,569 393 381 105,612 92.83 93 198 158
Area 004 5,183 3,945 215,988 2,667 2,496 192,386 97.59 87 881 591
Area 005 816 619 190,630 382 357 175,269 94.95 83 170 92
Area 006 612 461 319,646 356 339 309,684 94.79 72 123 39
Area 007 1,006 724 210,521 446 413 202,178 94.72 85 191 135
Area 008 860 607 154,197 485 472 144,275 96.28 94 155 83
Area 009 132 85 132,790 61 56 102,517 91.05 126 29 15
Area 010 405 297 105,879 201 206 101,896 95.81 75 67 70
Area 011 3,764 2,970 217,486 2,258 2,195 203,445 98.58 76 504 351
Area 012 432 305 176,982 230 213 165,028 94.92 105 78 42
Area 014 895 722 252,953 522 481 236,341 98.43 75 130 77
Area 015 25 20 238,485 11 10 136,340 93.38 81 3 5
Area 020 328 235 600,161 147 133 562,340 94.32 121 69 40
Area 021 165 107 493,516 53 49 308,569 93.96 136 29 39
Area 022 69 46 302,587 30 30 270,912 94.39 156 13 15
Area 023 202 144 569,605 80 73 538,923 94.63 125 37 31
Area 024 6 5 259,700 1 2 47,450 100 18 1 2
Area 030 943 709 181,737 538 531 168,390 98.16 86 129 92
Area 031 744 467 219,597 282 265 167,245 93.50 134 123 112
Area 040 97 73 115,780 42 40 85,391 96.70 69 21 9
Area 050 100 70 223,669 40 28 153,225 96.03 76 18 20
Area 060 178 119 191,052 53 43 128,763 93.28 139 37 39
Area 070 23 14 154,225 7 7 143,975 97.54 100 3 8
Area 080 85 62 186,504 40 40 111,515 90.63 117 13 15
Area 090 430 298 120,386 210 208 122,368 93.37 107 63 64
Area 100 346 213 207,066 128 115 167,127 91.30 151 68 50
Area 110 266 199 164,003 96 79 98,016 92.32 96 52 51
Residential 29,717 17,610 208,939 1,341 11,686 185,682 96.67 85 3,886 2,678
Auction 236 212 87,012 14 106 79,462 91.12 77 50 30
Commercial-Indust 897 415 346,503 18 90 268,527 86.10 225 118 220
Lots and Acreage 6,464 2,869 135,341 146 841 80,719 87.04 276 742 1,496
Multi Family 318 180 207,335 15 84 173,676 91.63 119 35 55
Proposed Construction 146 49 231,261 0 0 0 0 0 41 22
Rental 3,235 1,834 1,404 19 5 32,046 3,751.44 27 386 81


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Posted by Ashley Martin on October 3rd, 2016 11:49 AMLeave a Comment

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November 16th, 2015 8:31 AM

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Posted by Ashley Martin on November 16th, 2015 8:31 AMLeave a Comment

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January 24th, 2014 1:33 PM


Month Year Units
Listed
Listed
Volume
Listed
Average
Units
Sold
Sold
Volume
Sold
Average
Average
DOM
Jan 2013 1414 256,316,027 181,270 542 86,286,387 159,199 117
Feb 2013 1386 246,788,506 178,058 578 86,372,999 149,434 120
Mar 2013 1544 307,099,099 198,898 755 127,439,376 168,793 119
Apr 2013 1623 308,757,282 190,238 782 129,314,222 165,363 116
May 2013 1519 302,085,265 198,871 957 167,001,867 174,505 107
Jun 2013 1394 273,111,101 195,919 956 166,252,994 173,904 101
Jul 2013 1491 275,446,246 184,739 939 160,892,614 171,344 109
Aug 2013 1420 254,128,552 178,963 988 166,020,137 168,036 97
Sep 2013 1191 212,491,830 178,414 775 128,779,954 166,167 104
Oct 2013 1387 267,246,488 192,679 741 123,355,959 166,472 112
Nov 2013 1173 220,172,782 187,700 627 108,659,658 173,300 104
Dec 2013 913 167,586,077 183,555 673 115,124,134 171,061 107
Totals:   16455 3,091,229,255 187,860 9313 1,565,500,301 168,098 109

Total Listed:16455 Sold Units:9313 Remaining Units:7142 Inventory Accum.:9.20 *
Min Sold Price:
$1
Average Sold Price:
$168,098
Median Sold Price:
$143,500
Max Sold Price:
$1,590,000
Min List Price:
$0
Average List Price:
$187,859
Median List Price:
$150,000
Max List Price:
$2,999,000
* Inventory Accumulation (in months) = (# Remaining Units)/(# Sold Units/# Months)

Posted in:General
Posted by Ashley Martin on January 24th, 2014 1:33 PMLeave a Comment

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January 24th, 2014 1:31 PM


Month Year Units
Listed
Listed
Volume
Listed
Average
Units
Sold
Sold
Volume
Sold
Average
Average
DOM
Jan 2012 1403 235,975,094 168,193 425 71,699,367 168,704 115
Feb 2012 1335 237,298,420 177,751 462 69,656,568 150,771 127
Mar 2012 1562 292,045,270 186,968 637 98,502,300 154,634 123
Apr 2012 1427 269,460,024 188,829 646 103,534,643 160,270 126
May 2012 1437 264,098,052 183,784 729 115,706,070 158,718 119
Jun 2012 1309 241,868,212 184,773 725 122,780,737 169,352 112
Jul 2012 1357 238,808,252 175,982 730 120,514,562 165,088 113
Aug 2012 1406 255,475,474 181,703 792 129,193,790 163,123 120
Sep 2012 1164 204,049,833 175,300 595 100,500,379 168,908 111
Oct 2012 1255 219,674,643 175,039 687 109,601,544 159,536 113
Nov 2012 1022 185,014,878 181,032 616 94,038,171 152,659 116
Dec 2012 756 123,711,602 163,639 580 94,774,794 163,404 113
Totals:   15433 2,767,479,754 179,322 7624 1,230,502,925 161,399 117

Total Listed:15433 Sold Units:7624 Remaining Units:7809 Inventory Accum.:12.29 *
Min Sold Price:
$555
Average Sold Price:
$161,398
Median Sold Price:
$139,000
Max Sold Price:
$1,451,000
Min List Price:
$0
Average List Price:
$179,322
Median List Price:
$141,875
Max List Price:
$12,500,000

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Posted by Ashley Martin on January 24th, 2014 1:31 PMLeave a Comment

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