New Listings were down 15.9 percent for single family homes and 15.7 percent for townhouse-condo properties. Under Contracts increased 21.3 percent for single family homes and 42.2 percent for townhouse-condo properties.
The Median Sales Price was up 15.6 percent to $540,000 for single family homes and 7.3 percent to $354,000 for townhouse-condo properties. Days on Market decreased 40.0 percent for single family homes and 23.5 percent for townhouse-condo properties.
While many homebuilders are working to increase their activity, the cost of lumber and other materials and a backlogged supply chain continue to limit new home construction and have increased costs substantially. New methods of construction, including 3d printed homes, could speed construction and reduce costs in the future, but realistically are several years away from making a measurable impact in the market.
