This report fills 13 pages with key metrics and insights, covering each aspect of the market and painting a bigger picture about current trends.
From page one, which features a compelling, four-paragraph summary about the state of the market, the Monthly Indicators report is a powerful tool to help you master your market. Let’s take a closer look at what the report covers.
Here are three quick facts that help answer key questions about the market:
- Are sales picking up?
- Are listing prices increasing?
- Is the inventory of available homes at the end of the month increasing or decreasing?
The next page provides an overview of the 11 different metrics covered in the report.
On the left of the page, you can see all 11 metrics and their historical trend lines. It’s convenient to see them together one on top of another for the same period of time. The first thing you may notice is the seasonal behavior for some metrics and lack of it for others.
The first three metrics, New Listings, Closed Sales and Under Contract, clearly show the seasonality.
The next three metrics focus on sales and listing prices. These metrics are useful for identifying trends and making projections based off historical data about what pricing will look like in the months to come.
The next two metrics, Housing Affordability Index and Market Time, should speak for themselves.
The final two metrics, Months Supply of Homes for Sale and Inventory of Homes for Sale (metrics may vary from market to market), typically remain flat, lacking the peaks and valleys found in other metrics like those that relate to pricing.
Tip: If you ever wonder what each of the metrics means, simply scroll down and find the helpful description under each headline. We’ve even included an additional explanation to highlight the significance of each metric.
The subsequent 11 pages follow the same format; bar graphs are found on the left, while monthly numbers are in a table on the right and larger line graphs are at the bottom of each page.
MarketStats makes data approachable. Whether you’re an industry veteran already well-versed in reading and interpreting market data, or you’re new to real estate and can benefit from some helpful guidance, MarketStats will work for you.
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For MLS and association staff who need to quickly generate reports and charts that summarize local market activity, MarketStats by ShowingTime can help. Contact us for more information.