Parade of Homes

May 6 – 14, 2023

At the current sales rate, February unsold inventory sits at a 2.6-months’ supply, down from 2.9 last month but up from a 1.7-months reading a year ago. This inventory level remains very low, compared to balanced market conditions (4.5 to 6 months’ supply), and illustrates the long-run need for more home construction. For future upcoming events, please call the HBA office at 850.476.0318

Homes stayed on the market for an average of 34 days in February, up from 33 days in January and 18 days in February 2022. In February, 57% of homes sold were on the market for less than a month.

The February all-cash sales share was 28% of transactions, down from 29% last month but up from 25% a year ago. All-cash buyers are less affected by changes in interest rates.

The February median sales price of all existing homes was $363,000, down 0.2% from a year ago, ending a streak of 131 consecutive month of year-over-year increases, the longest-running streak on record. The median existing condominium/co-op price of $321,000 in February was up 2.5% from a year ago.

Geographically, all four regions saw an increase in existing home sales in February, ranging from 4.0% in the Northeast to 19.4% in the West. However, on a year-over-year basis, all four regions continued to see a double-digit decline in sales, ranging from 18.7% in the Midwest to 28.3% in the West.

The Pending Home Sales Index (PHSI) is a forward-looking indicator based on signed contracts. The PHSI rose 8.1% from 76.3 to 82.5 in January. However, on a year-over-year basis, pending sales were 24.1% lower than a year ago per the NAR data.

Top 10 Reasons To Do Business With An Active Associate Member

1. They support the industry at the local, state and national levels.

2. They volunteer time, talent and treasure to help the association accomplish its goals.

3. They recruit their colleagues & business contacts to become members.

4. They serve on committees & councils gaining valuable networking opportunity while helping to advance the association’s mission.

5. By doing so, you increase the value proposition for all membership in our HBA.

6. They are strong supporters of local and state PACs and BUILD-PAC.

7. They are a major source of non-dues revenue through sponsorships, advertising, etc.

8. As industry partners, they are a valuable resource for business and management tips.

9. They are heavily invested in your business success: You win, they win!

10. Why wouldn’t you do business with a member?