Market Update for May 2015

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 Find the whole report here:

1)

 

Reaction: The Lehigh Valley is sustaining its growth on a healthy path. A reduction in closed Sales and an increase in Median Sales price is precisely what one should want to see.  Lets delve deeper!

2) New Listings and Average Sales Price

Reaction: There was a pervasive thought that the market would suffer from a backlog of listings once the average price increased. Seeing a market that is up 6.5% in average sales price and only has a 1.1% increase the amount of listing is great, it seems to stymie this thought.

3) The Momentum continues.

Reaction: The Pended Sales being up 20.6% bodes well for the future. The percent change over the past 12 months has been up 10% per month. Impressive.


Zillow Report:

Zillow Report Link

From the peak of home values, we are now 19.3%. I like this report because it tells you how many foreclosures there are per 10,000 (4.4) and negative equity there is in the respective counties. Feel free to compare and contrast the results. Zillow is more bearish in the Lehigh Valley than the Realtor report.


I hope you enjoy the reports and numbers.

thanks!