Behind – Even – Ahead
It is the end of February, a month that is typically known for winter blizzards, sub zero temperatures and families staying inside. February 2017 was virtually none of those things. Multiple high temperature records were set and it clearly felt like it was late March most of the month. As a result, home buyers came out in droves, beginning their home search earlier than normal. The top graph above shows that as of the end of the month, home inventory was behind the same time last year, even with pending sales and ahead of closed sales.
The second graph shows a week by week comparison of new homes coming on the market and how fast they are swallowed up. As you can see, each week since January 1st, more homes have gone under contract than have been listed, which is why we are seeing inventory levels dropping and staying behind 2016.
Watch this months market report in a short 5 minute video
As Inventory Drops or Remains Flat Into Spring
Home List Prices Will Rise As Buyers Create Demand
(Click Graph To Download)
Homes For Sale Remain Flat
And Below 2016 Levels
(Click Graph To Download)
Pending Sales Mirror 2016 Activity
(Click Graph To Download)
Closed Transactions Slightly Ahead of 2016 YTD
(Click Graph To Download)
Homes Are Selling Like It’s 2016 All Over Again
(Click Graph To Download)
~Les Sulgrove, Broker
VIA Group REALTORS
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2016 Des Moines Residential Real Estate Annual Report
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