As of 2019 closed sales have gown down by almost 13%. Even though sales were down, the average price of a house went up by just over 3%. The median sale price for a house is $210,000, which is a staggering 3.8% rise from the 2018 pricing. Since 2018 homes have been on the market for an average of 62 days. Which means just around a two month supply of homes are on the market at any given time. For quite a while it has been a seller's market, and as of now, it looks like that trend will continue.

It is worth noting that there has been a decrease in the percentage of the original listing price that homeowners are receiving. Therefore, people who are listing their houses above market value, are having to lower their asking price to appease the current market and buyers. In March 2018, there were 4,071 pending sales compared to March of 2019, this year, where pending sales were only 3,931. With a lower amount of pending sales, inventory is down by 5.2%.

After considering all of the facts, it seems that we are beginning to see the small signs that the market is shifting. The Federal Reserve recently announced that they do not plan on another interest rate hike this year. Federal actions tend to affect mortgage rates, and a pause in rate hikes is fantastic news. If you're in the market for a new home, I suggest talking to your financial advisor and loan officer. Though prices are up right now, interest rates are low, so the life term of owning your home would be beneficial. If you're considering selling, I advise you to do it as soon as possible. It's clear that right now people are getting record prices for their homes right now.