Displays the average closing sales amount and the average price per square foot for the current month
along with the same month a year ago and the year prior to that. These price metrics include all resales,
REO sales, and new home sales in the market so therefore take into account all arm’s length transactions.
Source: Housing Intelligence, Market Activity Dashboard Report.
How to Use it
Provides a trending view for pricing year-over-year in the market.
Year-over-year comparisons are more reliable to follow than month-over-month
as seasonal differences can impact monthly trends. Taken together,
the two pricing trends enable reliable insights into the pricing strength of the market.
A positive trend in both indicates a healthy and strong market.
A negative trend in both reveals weakness.
A mixed trend, such as one where the average closing price is increasing but price per square
foot is decreasing reflects likely changes in product mix and so conflicting pricing
trends do not provide reliable insights in such a mixed scenario.
Last updated Dec 2013