This tracks the quarterly average single family sales price and number of sales in the overall CBSA for combined Regular and REO Sales. We define a Regular Sale as an arm's-length, non-distressed sale. The number of sales is a very reliable indicator with leads of one to two years on both the upside and downside of the real estate cycle.
This illustrates the average sold market time for single family homes in the overall CBSA. The lower this number the stronger the market. These series are further identified by Regular and REO Sale types.
This shows the quarterly average single family price for listings for the subject CBSA. We have found that the asking prices of listings is an excellent indicator of both current and future values in a marketplace, so this series should be viewed as an important leading indicator with regard to market price level and direction.
This chart is the total number of single family properties available for sale.
This chart is based on the average days on the market of sold property as reported. The lower this number the stronger the market.
This index combines the regional household income trends with interest rates and local housing prices and calculates the proportion of local households that can afford the median priced house. From an employer perspective, the lower this index the more challenging it will be to pay employees enough to allow them to secure owner occupied housing.
The Months of Inventory Remaining (MRI) series is calculated by dividing the current number of active listings by the recent monthly average sales rate. It is probably the best single measure of the Supply/Demand balance in a real estate market. The smaller the number of months remaining the stronger the market.
This shows the historical median single family price for the subject CBSA and our base home price forecast for the next 5 years.
This displays the quarterly average single family price on a per square foot of living area basis for sales and new listings for the subject CBSA. Average Listing Prices will typically be higher than Average Sold Prices but there are times when these series may converge which can signal important turning points in the market.