Market Update June 2015

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This month the only report I have to cite is the Lehigh Valley Association of Realtors version. Zillow did not provide their report for Allentown at the time of this post.


May was like the American Pharaoh of months, May had a perfect sweep of the metrics like the Triple Crown winner had a perfect sweep of the races.

May was an awesome month for the housing market.

I. Lehigh Valley Association of Realtors -- Report.

1. The Main Metrics

a) New Listings

Reaction: Buyer's have less choices for homes at the moment. As this trend continues, this puts pressure on prices to go up. The percent decrease is a healthy one in my opinion as its not too dramatic.


b) Closed Sales

Reaction: The amount of sales are up 10.5 % for the year but down -2.8% Month to Month. The month over month number does not trouble me because the Pended Sales are doing quite well.

c) Pended Sales.

Reaction: Pended sales are the best indicator of the future numbers. Both the month over month and year to date pended sales are compelling.

d) Average Sales Price

 

Reaction: People are making money on their homes MoM and YoY. That is awesome.

E) Months Supply

Reaction: Supply is down. This bodes well for the future of home prices.

2. School Districts

Three top performers In Average Sales Price:

a) Allentown School District (+7.9%)
b) Southern Lehigh (+11.8%)
c) Northampton (+31.7%)

Some performance that needs some work.

a) Catty: -15.1 %
b) Wilson: -8
c) Northwestern Lehigh ( -7.7 %)

-Stephen