July/August 2017 Market Pulse

A glimpse at the current state of the housing market.

July 12, 2017

The economy is hanging in there and job growth remains solid, so markets are seeing an uptick in first-time buyers. They comprised 34 percent of sales in April, up from 32 percent in March and 29 percent a year ago. Inventories remain low, though, so buyers are competing for a relatively small number of properties. As a result, days on market has plunged to an all-time low, a median of just 29 days, down from 39 days a year ago. 

Who’s buying?
The share of home buyers coming from the ranks of renters has steadily increased over the last three years, while the percentage of move-up buyers continues to slip.

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