REALTORS® report “low inventory” and “interest rate” as the major issues affecting transactions in February 2018.
Existing-home sales declined 2.3% in January from one month prior while new home sales dropped 7.8%.
Strong buyer traffic amid low supply of homes coming into the market continues to push up home prices.
International Women’s Day is a day to acknowledge the economic, political, and social achievements of women. In recognition of this day we can examine the profile of women REALTORS® using the 2017 Member Profile.
Except in two states, REALTORS® reported that buyer conditions were “stable” (unchanged) to “very strong” compared to conditions one year ago.
During the November 2017–January 2018, properties typically sold within one month in Washington, California, Nevada, Utah, Colorado, Nebraska, Minnesota, Michigan, Kentucky, New Hampshire, Massachusetts, and the District of Columbia.
Home inspection was the most common buyer contingency, and getting the correct appraisal and obtaining financing were next most common.
According to a survey of REALTORS® who responded to the January 2018 REALTORS® Confidence Index Survey, 34 percent of properties that closed in January 2018 sold at or above the list price.
Of REALTORS® who reported a sales contract that either closed or terminated in January 2018, 75% reported that the contract was settled on time.
Eighty-nine percent of survey respondents reported that home prices remained constant or rose in January 2018 compared to levels one year ago (88% in January 2017).
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