August 8th: Real Estate Summary

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In Mesa County

• There are currently 569 active homes on the market in Mesa County. This is a 6.8 percent increase compared to last week

• The average sold price YTD $426,245 and the median sold price YTD is $385,000.

• There have been 107 price reductions in the last 7 days.

• The average DOM for the active homes is 61.

Last Weeks New Listings

Last Weeks Sold Listings

Data firm Black Knight reports home price growth in June dropped nearly two percentage points, the largest monthly slowdown since the early 1970s. June also saw the largest single-month inventory increase in 12 years.

CoreLogic, another major data outfit, found price growth slowed for the second month in a row. They now forecast annual home price appreciation will drop to 4.3% by June 2023, in line with average price growth from 2010 to 2020.

Residential Construction Spending in June fell 1.6% below the revised May estimate. At a seasonally adjusted annual rate of $923.7 billion, home building is still a solid 15.6% higher than a year ago.

Stocks Today

Also, go check out my new Podcast with Coldwell Banker Distinctive Properties CEO, Todd Conklin!

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