New Listings were down 1.5 percent to 474. Pending Sales increased 9.5 percent to 323. Inventory shrank 5.6 percent to 2,300 units.
Prices moved higher as Median Sales Price was up 6.6 percent to $264,250.
Days on Market increased 8.2 percent to 119 days. Months Supply of Inventory was down 5.1 percent to 7.5 months, indicating that demand increased relative to supply.
In national financial news, rumors that Fannie Mae and Freddie Mac could one day be a thing of the past have people wondering about the future of the 30-year fixed rate mortgage. But let’s not sound the alarm just yet. A drastic change to lending’s gold standard is certainly not on the immediate horizon. Meanwhile, Federal Reserve
Chair Janet Yellen seems to have no immediate interest in raising interest rates for the first time since 2006. The economy remains stable, which should keep housing rolling through the short-named months.