US Home Sales, Housing Prices: 4Q 2018

House-for-sale inventory in the US increased in 4Q 2018, and metro market prices rose at a slower pace, according to the latest quarterly report by the National Association of Realtors® (NAR), released Tuesday.
The national median existing single-family home price in the quarter was US$257,600, up +4% from 4Q 2017 when it was US$247,800

Single-family home prices increased in 92 percent of measured markets last quarter, with 163 out of 178 metropolitan statistical areas showing sales price gains in 4Q compared to a year ago. Fourteen metro areas (8 percent) experienced double-digit increases, down from 18 in 3Q.

Total existing-home sales, including single family homes and condos, decreased -1.8% to a seasonally adjusted annual rate of 5.180 million in 4Q, a decline from 5.273 million in 3Q, and -7.4% lower than the 5.593 million-pace during 4Q 2017.

National Association of Realtors® (NAR)

At the end of 4Q there were 1.55 million existing homes available for sale – +6.2% above the 1.46 million homes for sale at the end of 4Q 2017. The average supply during 4Q was 4 months – up from 3.5 months in 4Q 2017, said NAR.

As more for-sale listings flooded onto the US housing market,

the latest data shows US HOUSE PRICES for 4Q and full-year 2018 with such big gains it slowed US HOME SALES in 4Q, said Business Times Thursday US home sales have slumped after a jump in mortgage rates added to an affordability crunch that built up after years of rapidly rising prices.

About 1.55 million homes were available for sale in the US at the end of December, up +6.2% from 2017.
While prices rose in 92 per cent of markets last quarter, only 14 of the 178 metropolitan areas tracked in the report showed double-digit increases, down from 18 in the third quarter. FULL STORY