November 2017 Real Estate Market Update
(Information and photos via Keller Williams)
Here’s your national market update for November! Interested in what’s going on here in our greater Athens area, or your specific home? Send us a request for contact, or give us a call today at Jennifer Westmoreland & Associates!
According to the National Association of REALTORS®, existing home sales inched up slightly this September. While buyer demand remains strong in much of the country, these marginal gains reflect the inventory strain that continues to impact many markets.
Interest Rates According to Freddie Mac, 30-year fixed rates rose from 3.83 percent to 3.88 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 5.4 million homes during the month of September. This was an increase of 0.7 percent from August and a decrease of 1.5 percent from September of last year.
Home Prices The median home price decreased to $245,100 in September, which was down 3.2 percent from August and up 4.2 percent from September of last year. The median home price has increased by approximately $9,900 in the past year alone.
Inventory There was a 4.2-month supply of housing inventory in September, which was flat from August. The total number of available homes for sale has decreased by 6.7 percent compared to September 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.