RED REPORT – APRIL 2018 – Spring Selling Season Continues- April 2018 4% higher than last April 2017
- INCREASE of 4% in April 2018 vs April 2017 (annual monthly comparison)
- DECREASE of 1% April 2018 from March 2018 (one month change)
- INCREASE of 1% Year to Date Closings – 2018 vs 2017
Total Inventories are up 7% for April 2018 verses April 2017
YTD Closings up 1%, Prices 12% higher & Inventories 7% higher than a year ago…
Year to Date: Total 4 counties closings up 1% April 2018 vs April 2017 , Closings are up 4% April 2018 vs April 2017 and Closed Prices are up 12%
Closings & Pendings strong but begin to level off through the Spring Season
One month change from March 2018 to April 2018.
CLOSINGS
▪ Rutherford Closings up 3%
▪ Williamson Closings down 2%
▪ Davidson Closings down 2%
▪ Wilson Closings down 2%
▪ Total 4 Counties are down 1%
PENDINGS
▪ Rutherford Closings up 3%
▪ Williamson Closings up 10%
▪ Davidson Closings down 4%
▪ Wilson Closings down 12%
The Red Forecast – April 2018
Spring selling season continues with the year to date closings just 1% above last year. Prices continue to rise at a very high rate. A 12% increase from a year ago is a very high increase that some would say is unhealthy. This large increase is due to a supply shortage and an increase in cost of lots and new home construction. Everyone from land sellers to material suppliers to subcontractors have raised their prices based on supply/demand which increases the final prices of homes. I do see these prices leveling off at some point, but for now the supply is limited so prices continue to rise.
The forecast going forward continues to look a lot like last year. Inventories continue to drive the sales and will continue to do so.
This has nothing to do with real-estate other than I was blessed to leave the real-estate world for a week to join my church on a mission trip to Guatemala last week. I don’t have enough room here to tell all the stories, but I do have to share about seeing a young man’s hand being healed before our eyes. He was shot seven times when his truck was highjacked leaving him with a hand/fingers that had no feeling and paralyzed after surgery. After a group prayed over him asking Jesus to heal him, his fingers/hand began to have movement. I’ve seen many miracles over time, but nothing immediate with my own eyes in minutes. I was a believer of miracles and prayer before, so this was a great reminder and wonderful gift to see this man’s healing. I was also reminded that America is extremely blessed with clean water and sanitary systems that our government manages so well. Clean water/sewer systems allow us to live in a healthy environment that makes life so much safer and enjoyable. It was also a huge blessing to share this week with my 15 year old daughter, Suzy, who assisted the pharmacy on the medical team who served over 300 patients. What an amazing week!!
Steven
Steven Dotson
President
1574 Medical Center Parkway
Suite 202
Murfreesboro, TN 37129
Direct: 615-896-1400
Office: 615-896-2733
www.RedRealty.com
