{"id":230914,"date":"2020-08-20T13:06:59","date_gmt":"2020-08-20T13:06:59","guid":{"rendered":"https:\/\/www.tenproperties.com\/?p=230914"},"modified":"2020-09-17T20:39:21","modified_gmt":"2020-09-17T20:39:21","slug":"july-2020-housing-market-report","status":"publish","type":"post","link":"https:\/\/www.tenproperties.com\/blog\/july-2020-housing-market-report\/","title":{"rendered":"July 2020 Housing Market Report"},"content":{"rendered":"\n<figure class=\"wp-block-pullquote\"><blockquote><p>A rebound to healthy liquidity in connection with a drop in inventory and rise in price pushes us into a slight seller&#8217;s market territory.<\/p><\/blockquote><\/figure>\n\n\n\n<p>July numbers are out. The headlines will read &#8220;Housing sales up 21%&#8221;, but we, as data driven investors, know better than to follow headlines. Let&#8217;s take a look&#8230;<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Closed Sales | Total Sales Dollar Volume<\/h4>\n\n\n\n<p>Sales are up simply because the market has been so suppressed by COVID-19. Granted, a high <em>Closed Sales<\/em> number is also indicative of a healthy liquid market, which is generally good for both buyers and sellers, it doesn&#8217;t tell us much more than that.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Median Sales Price<\/h4>\n\n\n\n<p>This is a good metric to look at as investors. In combination with a liquid market, this number gives us a glimpse into whether this is a &#8220;seller&#8217;s market&#8221; or &#8220;buyer&#8217;s market&#8221;, the real thing we want to know. We all want to see our home values go up by 10%, but this number isn&#8217;t exactly that because it can be skewed by larger, more expensive homes. If enough people bought $1M+ homes, this number would go up, even though the rest of us could see our property values decline.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">ADOM | MOI<\/h4>\n\n\n\n<p>I like to look at <em>Average Days on Market (ADOM) <\/em>and <em>Months of Inventory (MOI) <\/em>to tell the real picture. While ADOM is still high (mostly due to COVID-19), it came down 3 days. That in connection with a HUGE 1 month drop in inventory tells me this trending towards a sellers market, per our laws of Supply &amp; Demand.<\/p>\n\n\n\n<p>And there you have it for July. Happy hunting!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A rebound to healthy liquidity in connection with a drop in inventory and rise in price pushes us into a slight seller&#8217;s market territory.<\/p>\n","protected":false},"author":1,"featured_media":230912,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"off","_et_pb_old_content":"","_et_gb_content_width":"","om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[58],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>July 2020 Housing Market Report - Ten Properties<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.tenproperties.com\/blog\/july-2020-housing-market-report\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"July 2020 Housing Market Report - 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