There were 453 homes sold in the month of December. The pace of sales decreased -6% below last month's sales pace, but was still -31% below the same month of the previous year. Home sales are down primarily due to a declining inventory. If you are thinking about selling, doing so prior to the Spring market might be advantageous as inventory levels typically rise causing less demand among purchasers.

Home prices declined on a month-to-month basis in December, dropping -6% to an average sales price of $290,000. Year-over-year prices increased 2%. The deceleration in home price growth reflects improving inventories and provides buyers who experienced tight supply for much of the year with more inventory to select from

The number of homes available increased 23% compared to the same month of the previous year, with 729 homes available for sale in December. This translated to 2 months supply of active listings based upon closed sales. Inventory levels are low from this time last year which can cause an increase in home sales and prices. However with interest rates expected to rise in 2019 we could see a gradual plateau in appreciating values.