The number of single family homes and townhouse-condos closed were up just slightly.
While the supply for both single family and townhouse-condos plummeted by 27% and 25% respectively.
• Single Family Closed Sales were up 0.2 percent to 6,560.
• Townhouse-Condo Closed Sales were up 0.5 percent to 1,989.
• Adult Communities Closed Sales were down 4.0 percent to 620.
• Single Family Median Sales Price increased 2.6 percent to $300,000.
• Townhouse-Condo Median Sales Price increased 1.2 percent to $253,000.
• Adult Communities Median Sales Price increased 13.2 percent to $195,000.
Unemployment rates have remained low throughout 2017, and wages have shown improvement, though not always to levels that match home price increases. Yet housing demand remained incredibly strong in 2017, even in the face of higher mortgage rates that are likely to increase further in 2018. Home building and selling professionals are both cautiously optimistic for the year ahead. Housing and economic indicators give reason for this optimism, with or without new federal tax legislation.