I’ve talked a lot about seasonality on this site (here, here, and here for examples) - volume and prices increase in the spring and early summer, before falling off again in the fall and winter. It looks like that trend is holding true again, based on prices showing flat since the large jump in June of this year.
The good news is that October’s median sales price was up 10% year over year, compared with October 2017 (which was up 11% YoY to Oct 2016.)
At this point it looks like the market is acting exactly as expected.
- Chris Butterworth
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* All chart data represents single-family detached homes only. Information is believed accurate but not guaranteed.