July Market Signs

Decrease in New Listings and Increase in Buyer Activity Means Prices Continue to Rise.

July saw increases in all categories except New Listings. July New Listings(People putting their homes on the market with a Broker) decreased by 3% compared to July one year ago. When compared to June of this year, there was an even steeper decrease of over 11% from 500 new listings in June to only 443 new listings in July 2019. There is usually a decrease in new listing as we move toward the beginning of the school year and fall, but 11% drop is steeper then we have seen in the past.

Meanwhile, new purchase contracts signed, increased sharply when compared to the same time last year. July "New Contracts" rose nearly 26% from 329 in July 2018 to 414 in July of this year. Up to now,the total supply of homes for sale had been going up slightly each month of 2019 but the increase in buyer activity in June and July coupled with the decrease in people listing their homes for sale, means the supply is likely to decrease sharply in the months to come and prices will continues to rise.

See the signs below. For a city-by-city breakdown click here.

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