Despite unemployment remaining low and wage growth unwavering, there has been a general slowdown in sales across the country. Buyer demand remains strong: pending sales have increased 8.3% and closed sales have increased 4.7% from 2016. Within the $50,000 to $200,000 price range, sellers are favored with an average absorption rate of 2.14. From $250,000 to $700,000, the market continues to favor sellers with an average absorption rate of 4.7. From $650,000 on, buyers are favored with a 12.7 estimated average absorption rate. Homebuilder confidence remains for the future and new home construction could be on the rise shortly.
Real Market Reports