RE/MAX has reported national home sales data, and the results are a mixed bag. The data shows a 31.7% dip in home sales from December 2015 to January 2016. Although seasonality always marks a dip this time of year, it’s worth noting that this year’s number is above the 7-year average of a 27.6% decline.
But the news is not all bad. While the dip was greater than in years past, January’s sales figures are actually HIGHER than the previous year’s January sales, boasting a 6.3% increase year-over-year increase.
Some other interesting statistics worth noting, including one specifically about the Des Moines market:
The average number of days on market for all homes sold in January was 71, up four days from the average in December but nine days below one year earlier. January is the 34th consecutive month where the days on market average was 80 or less. In the two markets with the lowest inventory supply, Denver and San Francisco, the number of days on market was 40 and 36 respectively, while only four metro areas had an average of 100 days or greater; Burlington, Vt. (103); Des Moines, Iowa (105); Chicago (107); and Augusta, Maine (165).
Read the full article for all the data from the RE/MAX report.