Cass County Home Prices Rise in October, But Home For Sale Inventory Falles

Home prices rose in Cass County in October, but the inventory of homes for sale nationwide fell to its lowest level in over two decades. This decrease in inventory reflects a decline in demand for homes, which is reflected in higher prices and fewer available listings. However, a slowdown in inventory is not the end of the housing market in Cass County, and home prices are expected to rise in November.

New listings increased in October

Metro Vancouver home sales remained above their 10-year averages in October. While home sales in October decreased 5.2 per cent from last year’s October, they increased 11.4 per cent from the September 2021 month. This increase means that Metro Vancouver’s housing market is still more than two-thirds above its 10-year average.

Inventory of homes for sale fell by 14.4 percent between September and October, compared to last year. The number of homes for sale decreased by 2.9% and the average number of days on the homes for sale in 46032 market decreased by 7.6 percent. Despite the decreased inventory, home prices were still up nearly six percent year-over-year. However, the median home price has been trending downward since April.

Despite the slowdown in inventory, the Las Vegas housing market has continued to set records. The median price for a single-family home in October hit $410,000. There were 3,077 single-family home sales in October, down slightly from the 3,077 sold in September. At the end of the month, there was only 1.1 months of inventory available, down from 3.463 in September.

Home prices rose in Cass County in October

In October, home prices in Cass County, Indiana, rose 10.2%, which was above last month’s figures. While the number of homes for sale declined, the median listing price increased 7%. In addition, the median time on market for Cass County houses decreased to 42 days. The average listing price of a Cass County home was $75 per square foot. Meanwhile, home prices in the state of Illinois were $289,100, $172 per square foot, and the average selling price of an American home was $427,250.

Home prices rose in Cass County in November, but not nearly as much as in September. In addition to rising prices, home prices in Cass County increased 10.3% from the previous year. Meanwhile, prices in Miami County fell by nearly 15 percent.

National inventory of homes for sale fell to its lowest level in more than two decades in October

Rising mortgage rates and rising home prices have dampened the affordability of homes, and the housing market has continued to suffer. The number of homes for sale fell for six consecutive months in October, with the median home price down over 9% from a year ago. The housing market’s lack of supply exacerbated the ongoing shortage of existing homes, which buyers snapped up just days after they hit the market. Although the number of homes for sale has decreased, economists say the housing market is likely to reach a healthy balance by 2022.

The lack of supply has boosted home prices, and lower-than-average interest rates have boosted investor demand. But the lack of supply has created a situation where traditional home buyers are facing stiff competition. As a result, builders have shied away from new construction. In addition, lack of skilled workers has prevented them from completing new construction, reducing the supply of homes for sale. As a result, building permits for new construction fell by 24% in 2020 and haven’t recovered in 2022.