> > > Washtenaw 7-Year Sale Index
Closed sales are up by 15% (through March 9th), despite a 32% YOY decline in inventory. With rising values and fewer entry-priced sales in the mix, average sale price is up 9%. New pendings have been up 7% YTD, but new listings down 10%. The growing inventory shortage is stifling sales. Closed sales, which were up 23% YOY in January, were up by just 7% in February. YOY monthly price margins are also shrinking.
|YTD Vol (million)||$170.2||$172.9||$218.0||26%|
< 1 minute The recent rebound of home sales suggests the pandemic did not derail home buyers. Home price appreciation continues at a solid pace, reflecting fundamental strength in demand and the limited [...]
3 minutes The housing market continues to be a bright spot for the economy with increased interest from buyers for single family housing. If homes continue to sell at the current pace, [...]
2 minutes Inventory The number of homes for sale has slowly declined since June and is down 25% since this time last year. Inventory shortages are more severe for single family homes [...]