SAN JOSE, Calif. – Sept. 13, 2013 – Realtor.com, the consumer-facing listing website owned by the National Association of Realtors® (NAR), released its National Housing Trend Report for August 2013. The results suggest future home value appreciations may likely be driven by market demand rather than inventory shortages – a return to a “normal” real estate market.
The report finds the summer homebuying season ended with year-over-year changes within the single-digits for three key indicators – inventory count, median age and median list price. The national market was virtually flat month-over-month compared to July for both inventory and median list price, and it registered a slight increase in the median age of inventory.
“Where we have seen significant volatility in many markets, including double-digit declines in inventory as well as increases in median price for both yearly and monthly views, we are now looking at a housing market that is less heated and moving closer to normalcy,” says Steve Berkowitz, CEO of Move.
Key national market indicators
• Number of listings: Down 2.5% year-to-year and up 0.93% month-to-month
• Median age of inventory: 92 days, down 8% year-to-year and up 8.24% month-to-month
• Median list price: $199,900, up 6.39% year-to-year and unchanged month-to-month
© 2013 Florida Realtors®
Reprinted with permission. Florida Realtors®. All rights reserved.