The RMLS Market Action is out for January 2016! The full market action report can be viewed HERE; however, I’ve summarized a few important points below:
- Inventory has risen a little bit from our record-low December 2015 numbers. We had 1.8 months of inventory in 1/16 as opposed to 1.2 months in 12/15. However, this is still remarkably low; while the rising numbers do give hope for some alleviation for buyers, the market is still very much in favor of sellers.
- Average home prices rose year over year by 6.7%, and the median prices rose year over year by 8.1%.
- Average market time has risen slightly from December 2015 but is still well below the January 2015 numbers.
Let me know if you have any questions or comments!