Cindy Chase

Crye-Leike® REALTORS®

4627 North Lee Highway
Cleveland, TN 37311


Cell: 423-595-1308   
Phone: (423) 473-9545 

Housing Trends

December 2017

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National market update

Existing-Home Sales Grow 2.0 Percent in October

WASHINGTON (November 21, 2017) — Existing-home sales increased in October to their strongest pace since earlier this summer, but continual supply shortages led to fewer closings on an annual basis for the second straight month, according to the National Association of Realtors®.





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America Rediscovers Its Love of the Front Porch

In the 20th century, porches couldn’t compete with TV and air conditioning. Now this classic feature of American homes is staging a comeback as something more stylish and image-conscious than ever before.





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National housing indicators

Existing home sales (Oct)

5.48 millions units*

Existing home median price (Oct)

$247,000

Housing Starts (Oct)

1.290 millions units*

New home sales (Sep)

0.667 millions units*

*Seasonally adjusted annual rate. Source: NATIONAL ASSOCIATION OF REALTORS®.

National economic indicators

Home ownership

3rd Quarter 2017

63.9%

2nd Quarter 2017

63.7%

The homeownership rate of 63.9 percent was not statistically different from the rates in the third quarter 2016 (63.5 percent) or the second quarter 2017 (63.7 percent).

New home sales

September 2017

+18.9%

October 2017

+6.2%

Sales of new single-family houses in October 2017 were at a seasonally adjusted annual rate of 685,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 6.2 percent (±18.0 percent)* above the revised September rate of 645,000 and is 18.7 percent (±23.5 percent)* above the October 2016 estimate of 577,000.

Source: U.S. CENSUS BUREAU

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Regional market updates

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Click on the links below to view data from two different industry sources. Choose information on local prices & state sales from any of 178 metropolitan housing markets prepared by the National Association of REALTORS® or information on sales & price activity from local area markets in 25 states prepared by Clarus MarketMetrics.

Cindy Chase

Home Ownership matters…to people, to communities, and to America. Why? • For every two homes sold, one job is created in the U.S. • Each purchase generates as much as $60,000 in economic activity over time. Read more

Buying is now cheaper than renting in 74 percent of the nation’s largest cities. Low home prices and “rock-bottom” interest rates as well as tax advantages of homeownership are the reasons why it’s now cheaper to BUY a 2-bdrm home than to rent one. Check out this CNN Money article with the details. Read more

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Existing Home Statistics

View statistics based on national data, regional data and data gathered from 159 cities & metropolitan areas.