| April 2019 Market Update |
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According to the National Association of REALTORS®, existing home sales experienced a significant uptick after three consecutive months of decline. With low mortgage rates and the supply of homes rising, more buyers are entering the market. |
| Interest Rates |
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According to Freddie Mac, 30-year fixed rates decreased to 4.28 percent in February from 4.35 percent in January. This rate remains well below the historical average of 8.90 percent. |
| Home Sales |
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| The National Association of REALTORS® reported home sales at a seasonally adjusted annual rate of 5.5 million in February, up 11.8 percent from January, and 1.8 percent below the 5.6 million sales pace from a year ago. |
| Home Prices |
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| The median home price increased to $249,500 in February, up 0.1 percent from January. The median home price has increased by approximately $8,700 in the past year alone. |
| Inventory |
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| There was a 3.5-month supply of housing inventory in February 2019, down 10.3 percent from January. The total number of available homes for sale has increased by 2.9 percent compared to February of last year. |
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