RE Stats: 5/22-5/30

U.S. home prices, as measured by the seasonally adjusted Case-Shiller National Home Price Index, rose 0.42% in March

Without seasonal adjustment, U.S. home prices are down 3.7% from the 2022 peak Seasonally adjusted, U.S. home prices are down 2.3% from the 2022 peak.

In Mesa County

• There are currently 385 active homes on the market in Mesa County. This is a slight decrease from 388  last week.

• The average sold price YTD is $417,849 and the median sold price YTD is $378,000.

• There have been 94 price reductions in the last 8 days.

• There have been 88 new listings in the last 8 days.

• There have been 100 pending listings in the last 8 days.

• The average DOM for the active homes is 84 .

NATIONAL MARKET UPDATE
 

April saw sales of new homes surge to a 13-month high, up 4.1% from March and 11.8% ahead of last year. Inventories have recently made substantial gains, and the median price is down 8.2% from a year ago.

The Mortgage Bankers Association reports new-home purchase applications rose year-over-year for the third straight month. They note: “the broader housing market is leaning more on new construction to boost for-sale inventory.”

Meanwhile, contract signings on existing homes were flat in April, although three of the four major U.S. regions saw monthly gains. Only the Northeast’s numbers decreased, pulling down the national average.

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