The booming U.S. economy continues to prop up home sales and new listings in much of the nation, although housing affordability remains a concern. Historically, housing is still relatively affordable. Although Freddie Mac recently reported that the 30-year fixed rate is at its highest average in seven years, reaching 4.94 percent. The Bureau of Labor Statistics recently reported that the national unemployment rate was at 3.7 percent. Home buying and selling activity relies on gainful employment. 

– New Listings in the Northeast Florida region increased 12.1%. 

– Inventory levels rose 5.6%. 

– The Median Sales Price increased 3.8% to $216,000.

– Days on Market was down 6.2% to 61 days.

– Months Supply of Inventory remained flat at 3.6 months.

Click to read November 2018 NEFAR’s Market Stats and See How Your Neighborhood is Doing

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Market Stats Source: Northeast Florida Association of Realtors