This Month in Real Estate May 2018

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Your “This Month in Real Estate” update for May 2018 is here! Would you like more information on what’s going on with your home in the greater Athens area? Submit a request for contact, or give us a call today! Information via Keller Williams.

May 2018 Market Update According to the National Association of REALTORS®, existing home sales inched up for the second consecutive month in March in spite of insufficient inventory in many parts of the country. The ongoing strain on available homes has kept housing growth at a slower pace than that of last year. Interest Rates According to Freddie Mac, 30-year fixed rates rose from 4.45 percent to 4.47 percent. This rate remains well below the historical average of 8.90 percent. Home Sales The National Association of REALTORS® reported home sales at a seasonally adjusted annual rate of approximately 5.6 million homes during the month of March. This was an increase of 1.1 percent from February and a decrease of 1.2 percent from March of last year. Home Prices The median home price increased to $250,400 in March, which was up 3.9 percent from February and up 5.8 percent from March of last year. The median home price has increased by approximately $13,800 in the past year alone. Inventory There was a 3.6-month supply of housing inventory in March, which was an increase of 5.9 percent from February. The total number of available homes for sale has decreased by 5.3 percent compared to March of last year. Brought to you by KW Research. For additional graphs and details, please see the This Month in Real Estate PowerPoint Report.The opinions expressed in This Month in Real Estate are intended to supplement opinions on real estate expressed by local and national media, local real estate agents and other expert sources. You should not treat any opinion expressed on This Month in Real Estate as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of opinion. Keller Williams Realty, Inc., does not guarantee and is not responsible for the accuracy or completeness of information, and provides said information without warranties of any kind. All information presented herein is intended and should be used for educational purposes only. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. All investments involve some degree of risk. Keller Williams Realty, Inc., will not be liable for any loss or damage caused by your reliance on information contained in This Month in Real Estate.

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