Housing Prices Hit New Highs but Show Signs of Deceleration

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According to the Realtor.com® monthly housing trend report for May 2018 , U.S. home prices hit an all-time high of $297,000 and sold faster (a mere 55 days) than ever before in May. But, the market also showed hints of declining momentum.

Realtor.com® data showed inventory declined 6% year over year in May and increased 6% compared to April 2018. Median listing prices only grew 8% year over year for the third month in a row, down from 10% in February. Part of this deceleration can be attributed to 557,000 new listings hitting the market in May, the highest number since July 2015.

“We’re in the thick of the hottest home-buying season of all time. The pace of U.S. home sales has officially reached a seasonal and historical high, but we’re also beginning to see slight signs of deceleration,” cited Javier Vivas, director of economic research for realtor.com®.

As more and more new listings come onto the market, inventory declines are starting to lose momentum. On the surface, this offers a glimmer of hope to homebuyers and, if sustained, could plug the supply leak. However, total listing volume remains highly dependent on new construction, much of which is still out of price range for first time buyers – the largest segment of buyers. Even as inventory recovers, the mix of what’s available versus what shoppers are looking for could become an even more pronounced mismatch.

Unfortunately for buyers, median list prices continue to show strong yearly growth and fail to hint that home values will stall any time soon.”

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SOURCEAero Crew News, July 2018
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Tracy DuCharme
Tracy DuCharme, the wife of a pilot, founded Aviation Relocation International (ARI) as a complement to the efforts of recruiters and airlines. Based in Phoenix, ARI provides single point of contact concierge services to the aviation community including aviation professionals, recruiters and participating airlines, handling the details for those who are relocating to another base, domestic or foreign. DuCharme has strategically placed resources around the globe, including local real estate agents. specialized mortgage lenders, moving companies and more. AR|'s core mission is to provide a seamless integration into the new base community. DuCharme has worked with aviation professionals around the world for over 16 years and is no stranger to what an aviation family faces with base transfers. “You get it," is a comment she often hears from clients. She understands the issues that are unique to the profession, e.g. short notice moves, uncertain timeframes, consideration of multiple bases, etc. With ARI, "You are Now Free To Move Around the World."

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